Summary
- While political forces could alter their course, we believe that passage of these infrastructure bills would have a positive impact on the municipal market.
- If enacted into law, taxes for high income earners are likely to increase, which could fuel additional demand for tax-free municipal bonds, particularly in high tax states.
- In short, we believe infrastructure legislation would provide investors with new and expanded investment opportunities and issuers with additional opportunities to issue debt in a cost-effective manner.
Seeking Alpha
Jul. 09, 2021