Applauds support for tax-exempt advance refunding of municipal bonds to lower borrowing costs
WASHINGTON – The American Securities Association (ASA) today called on the U.S. Senate to swiftly confirm Transportation Secretary nominee Pete Buttigieg, following yesterday’s confirmation hearing before the Senate's Commerce, Science and Transportation Committee.
“ASA urges the Senate to come together on a bipartisan basis and quickly confirm Secretary of Transportation nominee Buttigieg,” said ASA CEO Chris Iacovella. “There is no time to waste to move forward on an infrastructure modernization bill and we applaud his support for reinstating the tax-exemption for advance refunding of municipal bonds. This is clearly a bipartisan issue and we look forward to working with the Biden Administration as a helpful partner to build America back better.”
Last July, ASA supported House-passage of an infrastructure package that included reinstating the tax-exemption for advance refunding of municipal bonds. Last May, ASA sent a letter to House Ways and Means Committee leadership calling on Congress to reinstate the tax-exemption for advance refunding of municipal bonds.
ASA also strongly supports the continued use of municipal bonds as a critical source of financing for infrastructure, affordable housing, and economic development. These bonds allow state and local governments to harness the expertise of the private sector to undertake public projects.
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/.