Alabama Port Authority joins criticism of tax reforms

The CEO of the Alabama State Port Authority (ASPA) has criticised the US government’s proposed tax reforms.

The ‘Tax Cut and Jobs Act’ would repeal the tax exemption for advanced refunding bonds and perhaps also, depending which version of the act is passed, private activity bonds.

Private activity bonds are a type of municipal bond which fund private sector projects which are deemed to benefit the public – container terminal investment for example