Gets even worse when you become a parent 😂

The submission deadline is May 31. Please don't hesitate to reach out if you have any questions, in the meantime more information about the conference could be found here: www.ssrn.com/index.cfm/en... (4/4)

... or government policies targeting these investors for bond price formation, as well as the effect of state and federal policies on governments' access to external finance. (3/4)

A particular preference will be given to papers that study primary market frictions that lead to higher financing costs /shortage of capital for state and local governments, secondary market frictions that increase transactions costs for investors, the prominence of retail investors... (2/4)

4/ Bottom line, we need research that comprehensively assesses the net benefits of the exemption for both state and local bonds and private activity bonds. Also, that has to be carefully done with the understanding that private activity bonds may substitute for or complement government bonds. End 🧵

3/ Experts argue that while a full repeal may be unlikely, the exempt status of private activity bonds may be at risk. Private activity bonds finance public-interest projects issued by private corporations or public-private partnerships. www.bondbuyer.com/news/a-wary-...

2/ Proponents of eliminating it argue it will generate substantial revenue for the federal government in a time with rising deficits: www.investmentnews.com/fixed-income...

1/ These debates are already heating up in the public finance space. One side of the debate favors keeping the tax exemption with the argument that it makes public-interest infrastructure investment feasible especially for smaller and financially constrained governments: www.nlc.org/article/2024...

Love it!