During the ongoing MBFA fly-in this week, we have learned that the House Committee on Ways and Means is in the process of developing a hearing on infrastructure financing that will include a robust debate on the municipal market and the expansion of financing tools needed. The hearing, titled “Leveraging the Tax Code for Infrastructure Investment,” will…
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We expect that later this morning Rep. Terri Sewell (D-AL) will introduce the “Local Infrastructure Financing Tools (LIFT) Act.” The bill will include several BDA and MBFA priorities, including: Reinstate advance refundings as they were in pre-2018 tax law. This provision would take effect 30 days after the date of enactment. Expand bank-qualified bonds. The…
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Following the announcement of the Biden infrastructure plan, House Ways and Means Chairman Richard Neal (D-MA) signaled that he plans legislative changes to the original draft, including ensuring that bond financing plays a role in the final package. His statements this week reiterate what the Chairman discussed during the BDA’sEngage Capitol Hill 2021 event last…
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