tax anticipation bills (TABs)

简明释义

预期税捐国库券

英英释义

例句

1.Investors often buy tax anticipation bills (TABs) because they offer a relatively low-risk investment option.

投资者通常购买税收预期票据（TABs），因为它们提供了相对低风险的投资选择。

2.During the budget meeting, the mayor discussed the need for tax anticipation bills (TABs) to bridge the funding gap.

在预算会议上，市长讨论了需要税收预期票据（TABs）来填补资金缺口。

3.Many municipalities issue tax anticipation bills (TABs) to manage cash flow until property tax revenues are collected.

许多市政当局发行税收预期票据（TABs）以管理现金流，直到财产税收入被收集。

4.The city council approved the issuance of tax anticipation bills (TABs) to fund urgent public projects.

市议会批准发行税收预期票据（TABs）以资助紧急公共项目。

5.Before issuing tax anticipation bills (TABs), the finance department conducts a thorough analysis of expected tax revenues.

在发行税收预期票据（TABs）之前，财务部门会对预计的税收收入进行全面分析。

作文

In the realm of public finance, various instruments are utilized to manage cash flow and ensure that government operations run smoothly. One such instrument is the tax anticipation bills (TABs), which play a crucial role in helping municipalities and other governmental entities meet their short-term funding needs. These financial instruments are essentially short-term debt securities issued by local governments in anticipation of future tax revenues. By issuing tax anticipation bills (TABs), governments can secure immediate funding to cover essential services and obligations while waiting for tax receipts to arrive. The mechanism behind tax anticipation bills (TABs) is relatively straightforward. When a local government expects to receive a significant amount of tax revenue within a specific period, it may find itself in need of cash to maintain operations until those funds are available. This situation often arises at the beginning of a fiscal year or during periods when tax payments are due but have not yet been collected. To bridge this gap, the government issues tax anticipation bills (TABs), which are sold to investors at a discount. The investors, in turn, receive the face value of the bills upon maturity, which aligns with the expected tax revenue collection date.The advantages of using tax anticipation bills (TABs) are manifold. Firstly, they provide immediate liquidity to governments, allowing them to fund essential services such as education, public safety, and infrastructure maintenance without interruption. Secondly, since these bills are backed by anticipated tax revenues, they are generally considered low-risk investments, making them attractive to conservative investors. This can lead to favorable interest rates for the issuing government, ultimately saving taxpayer dollars in interest costs.However, there are also challenges associated with tax anticipation bills (TABs). If the expected tax revenue does not materialize as anticipated—due to economic downturns, changes in tax policy, or other unforeseen circumstances—the government may struggle to repay the bills on time. This could lead to a cycle of borrowing that exacerbates financial difficulties. Additionally, excessive reliance on tax anticipation bills (TABs) can mask underlying fiscal issues, delaying necessary reforms and adjustments in budgeting practices.In conclusion, tax anticipation bills (TABs) serve as a vital tool for local governments to manage cash flow effectively. They allow for the timely provision of services and help maintain financial stability during periods of fluctuating revenue. However, it is essential for governments to use these instruments judiciously, ensuring that they do not become overly dependent on short-term borrowing at the expense of long-term fiscal health. Understanding the role and implications of tax anticipation bills (TABs) is crucial for both policymakers and investors alike, as it highlights the intricate balance between maintaining operational efficiency and ensuring sustainable financial practices.

在公共财政领域，各种工具被用来管理现金流，确保政府运作的顺利进行。其中一个工具就是税收预期票据（TABs），它在帮助市政当局和其他政府实体满足短期资金需求方面发挥着至关重要的作用。这些金融工具本质上是地方政府发行的短期债务证券，以预期未来的税收收入。通过发行税收预期票据（TABs），政府可以获得即时资金，以覆盖必要的服务和义务，同时等待税收收入的到来。税收预期票据（TABs）的机制相对简单。当地方政府预计在特定时期内会收到大量税收收入时，它可能会发现自己需要现金来维持运营，直到这些资金可用。这种情况通常发生在财政年度开始时或税款到期但尚未收集的期间。为了解决这个问题，政府发行税收预期票据（TABs），这些票据以折扣价出售给投资者。投资者在到期时将获得票据的面值，这与预期的税收收入收集日期相一致。使用税收预期票据（TABs）的好处有很多。首先，它们为政府提供了即时流动性，使其能够不间断地资助教育、公共安全和基础设施维护等基本服务。其次，由于这些票据是以预期的税收收入为担保的，因此通常被认为是低风险投资，使其对保守型投资者具有吸引力。这可能导致发行政府获得有利的利率，从而最终节省纳税人的利息支出。然而，使用税收预期票据（TABs）也面临挑战。如果预期的税收收入没有如预期那样实现——由于经济衰退、税收政策变化或其他不可预见的情况——政府可能会面临按时偿还票据的困难。这可能导致借贷循环，加剧财务困难。此外，过度依赖税收预期票据（TABs）可能掩盖潜在的财政问题，延迟必要的改革和预算实践调整。总之，税收预期票据（TABs）作为地方政府有效管理现金流的重要工具。它们允许及时提供服务，并在收入波动期间帮助维持财务稳定。然而，政府必须谨慎使用这些工具，确保它们不会过度依赖短期借贷，而牺牲长期财政健康。理解税收预期票据（TABs）的作用和影响对于政策制定者和投资者来说都是至关重要的，因为它突显了在保持运营效率与确保可持续财务实践之间的微妙平衡。