The American Public Transportation Association (APTA) sent a letter to members of the U.S. House of Representatives Committee on Ways and Means to identify its concerns with the proposed overhaul of the U.S. tax system.
APTA says the Tax Cuts and Jobs Act, H.R. 1, "fails to address key priorities of the public transportation industry." The association applauds the upholding of tax-exempt status of municipal bonds, which are used to finance state and local government-sponsored public works, but says repealing the use of Private Activity Bonds (PABs-another infrastructure financing mechanism) would "undermine Congress' stated goal of leveraging a $1 trillion investment in our nation's infrastructure."
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