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These policies have wide bipartisan support across the industry and Congress and are a common-sense inclusion into any infrastructure package.
WASHINGTON – The American Securities Association (ASA) today submitted its Infrastructure Modernization Agenda to the House Transportation and Infrastructure Committee’s leadership ahead of a hearing on the Biden Administration’s priorities for transportation infrastructure.
“ASA appreciates Chairman DeFazio and Ranking Member Graves for holding today’s important hearing and we look forward to working with the Committee, Secretary Buttigieg, and the Biden Administration to modernize America’s infrastructure, create good-paying jobs, and lead our country into the future,” said ASA CEO Chris Iacovella. “Municipal bonds are a key pillar of the ASA’s Infrastructure Modernization Agenda, they support jobs and economic opportunities in local communities, enable upgrades to failing facilities, and facilitate investment in important energy initiatives. These policies have wide bipartisan support across the industry and Congress and are a common-sense inclusion into any infrastructure package.”
Specifically, ASA urges the Committee to:
Maintain the Municipal Bond Interest Tax Exemption;
Avoid Legislating a Federal Infrastructure Bank;
Reinstate Advance Refundings for Municipal Bonds;
Renew Build America Bond Program;
Ensure Municipal Bonds Continue to Promote Environmental and Social Objectives;
Expand the Threshold for Municipal Bonds to be Bank-Qualified; and
Expand Eligibility and State Allowances for Private Activity Bonds.
To read ASA’s letter to the Committee, click here. To read ASA’s full Infrastructure Modernization Agenda, click here.
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ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.