[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 14 Introduced in House (IH)]

103d CONGRESS
  1st Session
H. RES. 14

Expressing the sense of the House of Representatives that Federal laws 
 regarding the taxation of State and local government bonds should not 
           be changed in order to increase Federal revenues.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

 Mr. Combest submitted the following resolution; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                               RESOLUTION


 
Expressing the sense of the House of Representatives that Federal laws 
 regarding the taxation of State and local government bonds should not 
           be changed in order to increase Federal revenues.

Whereas, in South Carolina v. Baker, the Supreme Court of the United States 
        ruled that Congress may tax interest on State and local government 
        bonds;
Whereas these bonds are an important source of revenue for State and local 
        governments in order to finance public projects, such as new roads, 
        bridges, and schools;
Whereas the taxation of interest on State and local government bonds would 
        severely impair the ability of these governments to finance such 
        projects; and
Whereas, historically, Congress has respected the important role of these bonds 
        in funding public projects by refraining from taxing the interest on 
        such bonds: Now, therefore, be it
    Resolved, That it is the sense of the House of Representatives that 
Federal laws regarding the taxation of State and local government bonds 
should not be changed in order to increase Federal revenues.

                                 <all>