Reps. Hultgren (R-IL) and Ruppersberger (D-MD) recently co-authored a letter to the Chair and Ranking Member of the House Ways and Means Committee, urging them to carefully consider any legislative proposal that would increase the cost of infrastructure financing for state and local governments. The letter was signed and supported by an additional 154 other Members from both sides of the aisle. The MBFA Coalition assisted in the effort to obtain these signatures.
The letter highlights the value of the tax-exemption, including:
Over $400 billion in municipal bonds were issued to finance core infrastructure projects in 2015
Fiscal federalism–local control and local responsibility makes municipal bonds an effective and efficient financing tool
Municipal bonds are on pace to finance upwards of $3 trillion in new infrastructure investments by 2026
The Municipal Finance Caucus is also co-chaired by Reps. Hultgren and Ruppersberger and the MBFA will continue to work with their staffs to obtain support to retain the current law status of the municipal tax-exemption in upcoming measures on tax reform and infrastructure.
For more information on the MBFA please visit www.munibondsforamerica.org