Lawmaker applauds Wharton Borough’s support of federal tax exemption on municipal bonds

WHARTON BOROUGH, NJ (Morris County) – Assemblyman Christian Barranco on Monday applauded the Borough of Wharton for passing a resolution in support of preserving the federal tax exemption on municipal bonds.

This financial tool enables local governments to fund essential public projects and infrastructure improvements, benefiting residents and businesses throughout the district.

“As a strong advocate for local control and fiscal responsibility, I commend the Borough of Wharton for recognizing the importance of preserving the federal tax exemption on municipal bonds,” said Barranco (R-Morris). “This exemption allows municipalities like Wharton to borrow at lower interest rates, reducing the overall cost of borrowing and making critical projects more financially sustainable.”

Municipal bonds are instrumental in financing a wide range of projects in New Jersey, including roads and bridges, schools and hospitals, water and sewer systems, as well as boosting local economies.

“By preserving the federal tax exemption on municipal bonds, we can ensure that local governments continue to have the financial tools necessary to fund essential projects and services that benefit our communities, especially in the wake of the I-80 sinkhole issues,” added Barranco. “I urge my colleagues in Trenton and in Washington to join me in supporting this critical financial tool and protecting the interests of our local governments.”