Supreme Court Hears Arguments in Davis Case

The Supreme Court heard arguments in Kentucky Department of Revenue v. Davis today. The Scotusblog has a good discussion of the arguments that were made today.

The case, as I’ve mentioned before, is on whether or not states can favor their own municipal bonds and grant them tax-exempt status while not granting tax-exempt status for out-of-state municipal bonds.

A decision will likely not be announced until early in 2008.

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