On February 5, 2019, the U.S. Chamber of Commerce hosted a major policy event titled, “America’s Infrastructure: Time to Invest,” in partnership with the Bond Dealers of America, at the Chamber Headquarters in Washington, D.C. The forum focused on encouraging federal investment in infrastructure, specifically to increase economic growth while updating the country’s lagging infrastructure systems.
The full webcast of the event can be viewed here. BDA’s participation begins at the 2:09:42 mark.
BDA member Alan Polsky, SVP, Dougherty & Company, LLC, participated in a panel discussion alongside Councilwoman Melanie Piana, City of Ferndale, Michigan and Jennifer Aument, President, Transurban. The panel titled, “Utilizing Public-Private Partnerships” focused on the P3 model and how it can be successful in the United States and on how bonds can be used more efficiently to supplement infrastructure investment in the U.S., including within the P3 model and other cost-savings they may present to local, state, and federal government.
Chairman Peter Defazio (D-OR) of the House Transportation and Infrastructure Committee spoke briefly before the panel and set the stage to discuss the need for variety in financing mechanisms needed to tackle our nations infrastructure deficit. Mr. Polsky built off these remarks and expounded on BDA priorities as cornerstones to any federal infrastructure package.
Mr. Polsky’s remarks focused primarily on the reinstatement of tax-exempt advance refundings, expansion of private-activity bonds, direct-pay bonds and the continued protection of the tax-exempt status of municipal bonds. Also highlighted was the ability for bonds to finance infrastructure at little to no cost to the federal government, an important point as the national debt continues to climb.