As I mentioned in May, the Supreme Court will be looking at the taxing of municipal bonds later this year (Department of Revenue v. Davis). There’s an interesting article that I found that analyzes what the Supreme Court will likely do; “Muni Bonds and the Commerce Clause After United Haulers.”
The law professors who wrote this article, Ethan Yale and Brian Galle, conclude that the Supreme Court will not overturn the Kentucky Court of Appeals ruling that taxing out-of-state municipal bonds while not taxing in-state municipal bonds is unconstitutional. The article is quite interesting; those with an interest in the case should read it.
Of course there’s a huge caveat—trying to guess what the Supreme Court will do is very difficult.