The Renewed Battle Over Tax Exemption of Interest on State and Local Government Debt Obligations

James E. Spiotto
Government Finance Review
February 2013

The ability of state and local governments to incur debt in order to finance structure, or other essential governmental services is well established and fundamental to their basic operation. Without that access, decisions about necessary infrastructure or services could not be made, funded, or implemented locally without the approval, or possibly the interference, of other governmental entities. This article is reprinted with permission.

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