MBFA Mission
Municipal Bonds for America is a coalition of the municipal market leadership working together and in concert with issuers and State and local groups to promote and advance the municipal bond market in the context of infrastructure.
This coalition, led by the Bond Dealers of America, is committed to advancing proposals that improve the municipal securities market while protecting the interests of taxpayers, investors, and state and local governments.
Muni Policy Issues
Advanced Refunding
A key provision of any federal infrastructure package needs to be the restoration of tax-exempt advance refundings which were outlawed in the 2017 Tax Cuts and Jobs Act. As a way for issuers to save taxpayer money by refinancing outstanding debt at historically low prices, the inability to use this valuable tool has made investing in critical projects and services more expensive while shifting federal costs onto state and local governments, and the people they serve.
Read MorePrivate Activity Bonds
PABs are a valuable tool for financing crucial public needs, including infrastructure projects and other community priorities. As proven by numerous projects across the country, the private sector working with the public sector often can address these needs more effectively, and at less taxpayer expense.
Read MoreDirect Pay Bonds
Taxable municipal bonds are needed to help struggling governments finance critical public projects in the wake of the Coronavirus pandemic. The new bonds would be modeled after the Build America Bond program, however, be exempt from sequestration and help support a wide range of infrastructure projects, including roads, bridges, water systems, and broadband internet.
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