WASHINGTON -- Sen. Max Baucus unveiled a set of proposals yesterday to spur long-term economic growth that includes ideas that would benefit tax-exempt bonds as well as one that could harm demand for them.

Baucus' proposals would allow infrastructure projects owned by private businesses to qualify for tax-exempt financing, create a national infrastructure bank, and increase taxes on upper-income people. But a change in tax law that he is pushing could help corporate securities at municipals' expense.

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