In a letter to colleagues, the Senate Finance Committee's top tax architects have invited senators to wipe the slate clean and start anew on tax reform. Chairman Max Baucus, D-Mont., and ranking minority member Orrin Hatch, R-Utah, called for a blank-slate approach, saying that special attention would be given to bipartisan plans that don't enshrine special interests unless they promote tax policy objectives. Municipal bond insiders don't believe the venerable tax exemption will be threatened, as it supports jobs and infrastructure and is not overly complex.

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