BDA and MBFA Continue to Engage with Hill and Administration Promoting Bonds
While nothing has been officially released, details continue to trickle out of the White House on the parameters of a likely $3 trillion spending plan on infrastructure. As part of the Biden Administrations Build Back Better plan, following the passage of COVIDstimulus, infrastructure is next on the docket. More on this belowThe BDA and MBFA continue to engage senior staff on both Capitol Hill and the Administration on the inclusion of muni infrastructure priorities in the package.
This week, the BDA Board is hosting House Ways and Means Chairman Richard Neal (D-MA) to discuss the Committee agenda for bonds and timing for passage. Later in the week, the MBFA Steering Committee is hosting the legislative staff of Senator Roger Wicker (R-MS), the sponsor of the LOCAL Infrastructure Act that would fully reinstate tax-exempt advance refundings in recent weeks.
Initial WH Plan Details
While bonds are expected to play a significant role in the formalized plan, initial leaked details lay out a massive spending plan aimed at a significant investment in a broad range of infrastructure.
These details include:
- $400 billion in spending to combat climate change including $60 billion for infrastructure related to green transit and $46 billion for climate-related research and development;
- The plan also would aim to make electric vehicle charging stations available across the country;
- $200 billion for housing infrastructure, including $100 billion to expand the supply of housing for low-income Americans.
We will continue to provide updates as they become available, including read-outs of both Hill-related events this week.