ASA Statement on Senate Banking 2025 Tax Policy Hearing

WASHINGTON – The American Securities Association (ASA) today welcomed the Senate Banking Committee’s hearing on tax policy in 2025 and implications for the American economy, while urging Congress to preserve the municipal bond tax-exemption.

“As the Banking Committee begins to consider tax policy for next year, we urge you to focus on policies, such as the preservation of the municipal bond tax-exemption, that will maximize the impact of investments without imposing undue burdens on communities, small businesses or American working families saving for their futures,” said ASA President and CEO Chris Iacovella. 

“Additionally, as the Committee leadership takes shape for next year, ASA congratulates Senator Warren on becoming Ranking Member and we hope she will work to promote the interests of working families and small businesses in her role. Senator Warren can do this by focusing on the concentrated power that monopolies in the financial services space wield and why this does not serve the public interest. We look forward to working with her and her staff.”

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.