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Treasury Halts Sale of Tax-Free Municipal Bonds
The Treasury halted new tax-exempt industrial development bonds, citing abuse of the exemption for private firms. The move affects $2 billion to $2.5 billion of planned issues this year, with a May 20 hearing set to finalize rules. Congress could overturn the action.
MENTIONED IN THIS ARTICLE
Treasury
Sterling F. Green
Associated Press
Washington
Congress
Senate Finance Committee
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