Tax-exempt municipal bonds: the most vital tool in U.S. infrastructure.

• Position: News & Numbers - Brief article

GFOA President Pat McCoy, along with finance officers from across the United States, explained the importance of tax-exempt municipal bonds in building our communities at GFOA's recent annual conference, held May 2017 in Denver.

The municipal bond tax exemption has a long history of success, having been maintained through two world wars and the Great Depression, as well as the recent Great Recession, and it continues to finance the majority of our nation's infrastructure needs for state and local governments of all. Tax-exempt municipal bonds have been used to finance more than $3 trillion in critical infrastructure, including the construction of schools, hospitals, airports, affordable housing, water and...