Muni groups oppose proposed political subdivision rules at public hearing
Municipal market groups called Monday for the Internal Revenue Service and Treasury Department to limit or withdraw proposed rules that would redefine political subdivisions. The rules, which would require political subdivisions to be governmentally controlled and serve a government purpose, would increase local governments' financing costs by increasing yields for muni bonds or forcing municipalities to issue taxable bonds, SIFMA's Michael Decker said.  The Bond Buyer (free content)