WASHINGTON, Dec. 15, 2017 /PRNewswire-USNewswire/ -- This
evening, the conference committee appointed to reconcile the
different versions of the Tax Cuts and Jobs Act (H.R. 1) released
their conference report. In response, National League of Cities
(NLC) President Mark Stodola, mayor
of Little Rock, Arkansas, released
the following statement:
"Hundreds of local leaders have
spoken loudly and clearly during this extremely condensed tax
reform debate: Congress can't pay for tax reform by stripping the
tools that help build stronger, healthier and more
economically-vibrant communities.
"City leaders have helped push the
needle to produce a final conference bill that protects the tax
exemptions for most bonds, preserves many key credits and partially
protects the deduction for state and local taxes (SALT).
Unfortunately, the final bill falls short on its promise to protect
American families and the cities and towns in which they live.
"While we are still reviewing the
details of the final conference report, we continue to urge
Congress to reject any bill that eliminates or reduces important
tools for cities like the tax exemption for advance refunding
bonds, key tax credits including the historic tax credit, and the
full preservation of the deduction for state and local taxes
(SALT)."
For a list of NLC priorities in tax reform, and to track the
status of bonds, credits and deductions that are critical to
cities, visit www.nlc.org/TaxReform.
More than 800 city leaders have signed onto an action letter
outlining NLC's topline priorities when it comes to tax reform and
the federal budget. You can view the letter and signatures at
www.nlc.org/StandWithCities.
NLC is a founding member of Americans Against Double
Taxation, a coalition of advocacy groups dedicated to preserving
the state and local tax (SALT) deduction.
The National League of Cities (NLC) is
dedicated to helping city leaders build better communities. NLC is
a resource and advocate for 19,000 cities, towns and villages,
representing more than 218 million
Americans. www.nlc.org
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SOURCE National League of Cities