In December 2024, the Congressional Budget Office (CBO) released a report proposing the elimination of tax exemptions for new qualified private activity bonds (PABs) as a measure to reduce the federal budget deficit. PABs have helped charter/private K-12 schools thrive, providing the financing needed to build high-quality educational facilities across the country. If their tax-exempt status is removed or limited, it will directly impact schools, students, and communities. By reaching out to lawmakers and sharing your story through GFOA’s Built by Bonds campaign, charter/private K-12 schools can help protect this critical funding tool for future generations.