Today, the Municipal Bonds for America Council (MBFA) submitted testimony following the House Ways and Means Subcommittee on Select Revenue Measures March 11th hearing titled, “Tax Tools to Help Local Governments.”
The MBFA testimony can be viewed here.
While the hearing covered a multitude of other tax issues, the majority of the discussion focused on municipal bonds in the context of infrastructure financing, highlighting many municipal market and MBFA priorities.
The MBFA testimony focuses on the Councils main legislative priorities:
- Restoration of tax-exempt advance refundings
- Expansion of PABs including ESG
- Raising the BQ debt limit; and
- Reinstatement of direct-pay bonds exempt from sequestration.
This 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, to discuss next steps in the Senate and possible reintroduction of the Senators American Infrastructure Bond legislation of the 116th Congress.
The MBFA will continue to provide details as they become available.
Bond Dealers of America
March 24, 2021