Tax Provisions Expected Later this Month
The BDA has learned that the House Committee on Ways and Means today will conduct an internal conference call to discuss next steps in development of the tax title to the recently introduced Invest in America Act, a reauthorization bill focused on surface transportation and environmental impacts. Many expect the Chairman to prioritize bond provisions in the initial draft, including the creation of a new BABs program untethered from sequestration.
The BDA continues to work with our partners on the Hill promoting BDA priorities including recently engaging with and submitting a principles document to the Committee. The priorities shared include:
- The Restoration of Advance Refundings;
- Expanding the use of PABs;
- Increase the BQ debt limit; and
- Development a new BABs program exempted from sequestration.
The House continues to press forward with the package, however at this time it appears that it will not be finalized by the end of June as first anticipated.