Congressional Correspondence

PFN Municipal Finance Letter re Infrastructure Package - September 1 2021 

09-02-2021 11:31 AM

Congress is currently working to finalize infrastructure legislation that, if passed, will authorize major new infrastructure projects and attempt to address how to finance them. APGA is a member of the Public Finance Network (PFN), a coalition of associations and other organizations interested in municipal finance issues. APGA joined the PFN colleagues on a letter to House and Senate leadership sent on September 1, urging Congress to consider several priorities that could help fund these historic investments in infrastructure.

Specifically, the letter urges Congress to restore advance refunding bonds and restore and expand the use of direct-pay taxable bonds that are exempt from sequestration. Both measures would give state and local governments expanded access to capital by providing them with opportunities to refinance their debt at more favorable rates and give them access to a new financing tool that provides access to a larger pool of investors.

APGA has been a strong supporter of both of these policy proposals, and this letter was an excellent opportunity to remind Congress that it needs to provide its state and local partners with the necessary tools to carry out its vision for improving the nation’s infrastructure.

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