Last week, (June 14,2019) the Municipal Bonds for America (MBFA) Coalition canvased Capitol Hill in support of municipal finance for infrastructure development and the tax exemption through multiple events on Capitol Hill over a two-day period. MBFA Executive Chair Steve Benjamin, Mayor of Columbia, S.C. and current president of the U.S. Conference of Mayors presided…
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Co-chairs of the House Municipal Finance Caucus submit a bi-partisan Dear Colleague letter to the entire House of Representatives in support of the tax exempt status of municipal bonds. The letter states, “The federal tax exemption reduces the cost of issuing municipal bonds, making important community infrastructure cheaper for taxpayers and freeing up resources for…
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On May 20th, members of the House Municipal Finance Caucus, led by Congressmen Ruppersberger (D-MD) and Stivers (R-OH), introduced H.R. 2772 a bill to restore the tax-exemption for advance refunding bonds. Titled the, “Investing in Our Communities Act,” the bill will enable governments to refinance outstanding bonds for infrastructure and free up resources for other…
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Steve Benjamin, Mayor of Columbia, S.C., advocating for the full reinstatement of advance refundings.
Contact Justin Underwood at justin@munibondsforamerica.org to receive a hard copy.
Today, Rep. Dutch Ruppersberger (D-MD) announced Congressman Steve Stivers (R-OH) will co-chair the Municipal Finance Caucus. Rep. Ruppersberger is an original founder of the caucus, along with outgoing co-chair Rep. Randy Hultgren (R-IL). You can view the statement released by Rep. Ruppersberger here. The MBFA Coalition looks forward to working with Rep. Stivers and his…
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Mayor Benjamin recently sat down with the Bond Buyer to discuss the importance of advance refundings for municipal bond issuers, his agenda as president of the U.S. Conference of Mayors, and the work of the MBFA coalition.
Why mayors are `completely baffled’ by loss of advance refunding The beginning of Infrastructure Week 2018 presents us with the perfect opportunity to highlight a major blow to community control and to local government infrastructure investment: the repeal of advance refunding of municipal bonds in the Tax Cuts and Jobs Act. I deeply appreciate that…
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By Brian Tumulty Published February 09 2018, 10∶06am EST More in Infrastructure, Washington DC WASHINGTON – Friday morning’s brief federal government shutdown highlighted the unpredictability of federal funding that state and local governments say they want to end in order to help them plan their own budgets. “The big issue we want is regular order,”…
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U.S. Representative Randy Hultgren (IL-14), Co-Chair of the Congressional Municipal Finance Caucus, led 20 of his Republican colleagues in sending a letter to House and Senate leadership urging them to preserve the tax – exempt status of private activity bonds in any tax reform legislation. The letter stresses the importance of maintaining the tax-exempt status of advance…
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The Municipal Bonds for America (MBFA) Coalition submitted a letter to Senate Finance Chairman Orrin Hatch (R-UT) and other members of the Senate Finance Committee to show its appreciation for protecting the underlying tax exempt status on municipal bonds, including private activity bonds (PABs). However, the Coalition strongly objected to the inclusion to deny tax…
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Today, the House Committee on Ways and Means released its much anticipated tax reform package – “The Tax Cuts and Jobs Act”. The legislation maintains the tax-exemption for municipal bonds, while slashing rates for both individuals and corporations. The release can be found here. Highlights from the bill, include: The bill consolidates personal rates, maintaining the…
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Today, Steve Benjamin, Mayor of Columbia, S.C., and Chair of the Municipal Bonds for America (MBFA) Coalition, contributed an op-ed in The Hill, which can be read here. The article focuses on how those faced with the devastation left behind by Hurricanes Harvey and Irma can look to the traditional bond market to rebuild stronger, smarter…
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The MBFA Coalition submitted a letter to House Speaker Paul Ryan (R-WI) and Rep. Kevin Brady (R-TX), Chairman of the House Ways & Means Committee in response to the release of the “Blueprint” on tax reform to maintain the tax exemption for municipal bonds. You can view a copy of the letter here.
Tax-exempt municipal bonds are an indispensible tool for overcoming our nation’s infrastructure challenges. These bonds have financed more than three-quarters of U.S. infrastructure projects in the 21st century.
The Municipal Bonds for America (MBFA) Coalition sent a letter to the Senate Finance Committee’s tax reform working groups on Community Development and Infrastructure and Individual Income Tax in response to the Committee’s request for public input on tax reform.
The Municipal Bonds for America (MBFA) Coalition sent a letter to Senators Dean Heller (R-NV) and Michael Bennet (D-CO), the co-chairs of the Senate Finance Committee Community Development & Infrastructure tax reform working group. The working groups are in the process of gathering information to make recommendations on their group’s topic regarding tax reform to…
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WASHINGTON, D.C. (January 20, 2015)—The Municipal Bonds for America Coalition (MBFA) welcomes President Obama’s remarks regarding infrastructure investment in his 2015 State of the Union address. We agree that improving infrastructure should be a bipartisan issue. The President’s remarks highlight the importance of expanding tax-exempt financing opportunities for state and local governments in order to…
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WASHINGTON – March 4, 2014 – The Municipal Bonds for America Coalition (MBFA) is disappointed in the proposal within the Administration budget that, as in prior budgets, caps tax exempt interest on municipal bonds at 28%. Steve Benjamin, Mayor of Columbia, South Carolina and Chair of the Coalition’s executive committee, said, “It is disappointing that…
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MBFA Submits Comment Letter on the Proposed IRS Political Subdivision Rule
On August 7th, the MBFA submitted a comment letter on the IRS’ proposed political subdivision rule, which is currently being reviewed per the requirements of Executive Order 13789 that requires the Secretary of the Treasury to review temporary, proposed, or final IRS regulations issued between January 1, 2016, and April 21, 2017 — the date…
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