The BDA continues to aggressively advocate in support of the addition of language to the Senate stimulus bill from the Bond Market Emergency Relief Act.
- Directly working with Members of Congress and staff,
- Official BDA statements of support as reported this past week in Bloomberg, Politico and the Bond Buyer, and
- Working with BDA members and our partners in the muni issuer community to coordinate a grassroots lobbying campaign in support of the bill. Progress is being made.
**It is believed that the Senate is looking to give authority to the Federal reserve to:
Provide up to $425,000,000 of liquidity to the financial system that supports lending to eligible businesses, States, or municipalities by
(A) purchasing obligations or other interests directly from issuers of such obligations or other interests; or
(B) purchasing obligations or other interests in secondary markets or otherwise.
**The BDA asks that if you are a constituent of any Senators listed below, or have clients in the states listed below. Please email ASAP the listed staff contact with a brief message of support:
I am asking for your support for Senator Menendez and Purdue’s Municipal Bond Market Emergency Relief Act. Short term rate resets have recently been north of 10% (a borrowing rate far in excess of fed rates). Stability in the municipal market is needed immediately.
As you all know, a quick, short-term, temporary fix may be exactly what it takes to set the muni market back on task, financing $4 trillion of our nations infrastructure needs.
Please let me know if you have any questions
Sen. Durbin Corey Tellez. firstname.lastname@example.org
Sen. Van Hollen – Karolina_Arias@vanhollen.senate.gov
Sen. Brown – Elisha_tuku@banking.senate.gov
Sen. Schatz – Mika_morse@schatz.senate.gov
Sen. Cortez Mastro – email@example.com
Sen. Smith – Tim_Everett@smith.senate.gov
Sen. Sinema – firstname.lastname@example.org
Sen. Reed – email@example.com
Sen. Jones – firstname.lastname@example.org
Senator Tester – Elizabeth_Connolly@tester.senate.gov