The American Association of Port Authorities (AAPA) has criticised aspects of new legislation being proposed by the US authorities.
In a statement, the AAPA said that infrastructure funding would be made more difficult by provisions in two separate ‘Tax Cuts and Jobs Act’ bills which have been approved by the House of Representatives and the Senate.
Both bills would repeal the tax exemption for advanced refunding of bonds, which the AAPA claims would affect the ability of issuers to refinance those bonds at lower rates.
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