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Nation’s Mayors Concerned New Taxes Will Up Borrowing Costs

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    Carmel, Ind., Mayor James Brainard on the benefits of municipal bonds.

  • Duration 1:49
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He's attack god -- tax breaks and loopholes that could soon be hurting your own -- talent.

Jeff Flock joins us from Carmel Indiana out with more hi -- I like this story because it points out the complexity of when you say -- yeah let's kill those tax breaks for the wealthy it's not as simple as that.

And -- Obama is planning to.

Limit the tax breaks for tax free municipal bonds I'm standing in the new water plant.

And Carmel Indiana that the mayor with me could you have financed this with house.

Municipal bonds with tax free municipal bond we could -- finance it was pennsylvanians.

Bombs but it would cost or taxpayers a lot more money.

So this proposal would be nothing.

But really shift.

It's not new revenue that's taking revenue from local taxpayers and transferring it to the federal government.

Up plus -- have a huge impact of construction jobs because a lot of cities would be able to build.

Basic infrastructure improvements that they're now able to build for their citizens.

A lot of our viewers may have tax free municipal bonds they are are attractive to the wealthy because they are tax free and people walk over would be -- I look at the rest of this plant.

They are tax free so there -- very attractive the problem is you've got a lot of Democrats out there that run cities and towns all across this country to say wait a minute.

You're not just hurting the well beyond that.

Well there -- a lot of jobs we had over 200 people working on this plane in the related improvements.

During the construction period.

Those jobs had we not been able to build this plant.

What would have been available during the economic downturn which mr.

mayor appreciate it we're going to be here all day.

A brand new plant financed with tax free municipal bonds the cost of borrowing could go off.

If they eliminate that tax free nature.

Jeff thank you so much for that Jeff Flock -- -- -- India told the housing.

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