Today, the Municipal Bonds for America Council (MBFA) submitted testimony to the House Committee on Ways and Means and the Senate Finance Committee following recent hearings featuring municipal bond financing in the context of infrastructure. While the hearings covered a wide variety of funding and financing measures, bonds were at the center of many bipartisan agreements.
The MBFA testimony can be viewed here
The MBFA testimony focuses on the Councils main legislative priorities:
- Restoration of tax-exempt advance refundings;
- Expansion of PABs including for ESG use ;
- Raising the BQ debt limit; and
- Reinstatement of direct-pay bonds exempt from sequestration.
Following the recent MBFA virtual fly-in, we continue to advocate for robust infrastructure action that emboldens the municipal market. At this time, both size and scope of the eventual package are still being debated, and the timing remains in flux.
The MBFA will continue to provide details as they become available.