Municipal bonds save local taxpayers money
An Oct. 15 letter to the editor criticizes my career in municipal finance by dismissing municipal bonds as merely a tax haven for wealthy investors. That view ignores who actually benefits when a town borrows at lower cost: its taxpayers.
Yes, municipal bond interest is generally tax-exempt. In exchange, investors accept much lower yields than comparable taxable bonds offer. Those lower interest costs help towns, school districts, hospitals and water systems finance essential projects more affordably. Local taxpayers reap the savings.
This isn’t a partisan argument. In April 2025, House Financial Services Committee Chairman French Hill and six fellow Republican committee leaders urged Congress to preserve the exemption. They emphasized its importance to smaller and rural communities.
There is room for reasonable disagreement on tax policy, and I welcome it. But New Hampshire needs legislators who understand how local projects get financed and who ultimately pays the bill.
For four decades, I’ve helped public borrowers keep their costs down. As a candidate for state representative for Deering and Francestown, I’d bring that experience to Concord at a time when property taxes are a central concern.