Senator Roger Wicker(R-MS), the lead sponsor of legislation that would fully restore advance refundings and create a new BABs program exempt from sequestration, contacted the BDA and the broader Public Finance Network, to ask for help in growing support for their common sense muni legislation as the Senate begins deliberations on a possible stimulus package.…
Category: Protecting Tax Exempt Municipal Bonds
The BDA works with industry partners, including issuers and state and local groups, through the Municipal Bonds for America (MBFA) Coalition to preserve the tax exempt status of municipal bonds.
Learn more about the MBFA
Infrastructure Bond Legislation Introduced in Senate with Support of BDA
Today, Senators Roger Wicker (R-MS) and Michael Bennet (D-CO) formally introduced legislation that creates a new Build America Bonds program exempt from sequestration titled, the American Infrastructure Bonds Act. The bill, which is supported by the BDA and multiple state and local government groups, would create a new class of “direct-pay” taxable municipal bonds to help struggling…
BDA Sends Letter of Support to Senators Wicker (R-MS) and Stabenow (D-MI) on Advanced Refundings
[pdf-embedder url=”https://bondmarket.org/wp-content/uploads/2020/07/Wicker_AR_Ltr.pdf”]
BDA Support for HR 2 and Muni Bond Provisions – Including IDB Expansion
AR bill being introduced in Senate today BDA today sent a letter to House Speaker Nancy Pelosi (D-CA) and House Minority Leader Kevin McCarthy (R-CA) in support of HR 2, the Moving Forward Act. HR 2 would reauthorize federal surface transportation grant programs as well as restore tax-exempt advance refundings and make other improvements to…
Municipal Coalition (including the BDA) Weighs in on Infrastructure Bill
The House of Representatives is expected this week to take up H.R. 2, the Moving Forward Act, legislation to reauthorize and enhance infrastructure finance. Today a coalition of 25 municipal-focused organizations including BDA sent a letter to all members of Congress supporting HR 2 and urging congressional approval. The bill includes a number of municipal…
HR2: U.S. House Infrastructure Tax Bill
Including long sought provisions by BDA and BDA members, the Democratic House leaders this morning released their full transportation infrastructure bill. The House bill HR2, includes the following provisions: Restoration of direct pay bonds: The bill proposes a new category of “Qualified Infrastructure Bond.” QIBs would be taxable bonds similar to Build America Bonds where a cash…
House Ways and Means Announces Legislation to Reinstate Advance Refundings
BDA Continues Supporting Senate Efforts Today, the House Committee on Ways and Means announced pending legislation titled, the Moving Forward Act, the tax title for the broader House Surface Transportation Reauthorization. The legislation would fully, and permanently reinstate Advance Refundings, allow for expanded usage of Private Activity Bonds, raise the BQ Debt limit, and create a new…
BDA to Join CDFA in Support of Industrial Development Bonds Legislation
The BDA is joining forces with the Council of Development Finance Agencies in support of the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA). The bill, sponsored by Reps. Stephanie Murphy (D-FL) and Darin LaHood (R-IL), would modernize the Internal Revenue Code as it relates to small issue bonds, specifically the private activity bond rules for first-time farmers…
House to Consider Infrastructure Legislation in June: BDA Engages with Ways and Means Sharing Market Priorities
The BDA has learned that House Leadership plans to take action on infrastructure in June. As the House moves to consider infrastructure legislation, today the BDA engaged with the House Committee on Ways and Means and submitted a priorities document to the Committee. The BDA principles document can be viewed here. The BDA calls on the…
Capitol Hill Update: Infrastructure Push Slowed
Congress Turns Focus Back to Direct Funding to Cities Last week, the House of Representatives announced its push to include a massive infrastructure package into a future “stimulus phase 4” bill. This idea ran into strong Republican push-back in the Senate, and seems to have been tabled for the potential April stimulus legislation. This week,…