WASHINGTON -- State and local groups are expected to tell regulators in a letter today that repealing the 1975 federal ban on regulating municipal bond issuers would be the wrong way to clamp down on abuses involving political contributions.

The letter from the Government Finance Officers Association, the National League of Cities, the U.S. Conference of Mayors, the National Association of Counties, and the American Public Power Association is expected to argue that repeal of the so-called Tower Amendment could lead to an array of costly new federal mandates on issuers.

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