Coalition Urges Congressional Attention to Municipal Bond Issues Including Advance Refunding

Capitol_Flowers(March 26, 2019) - The House Ways & Means Committee, which is the chief tax-writing committee in the House of Representatives, recently held a hearing entitled, “Our Nation’s Crumbling Infrastructure and the Need for Immediate Action.”

During the hearing, the Committee heard testimony from the leadership of the House Transportation & Infrastructure Committee, which has jurisdiction over Clean Water Act issues, about the needs and challenges to infrastructure investment - especially water infrastructure.

As a follow-up to the hearing, NACWA joined with the Public Finance Network, a group of diverse public sector organizations, in submitting comments to the Ways & Means Committee. The comments highlight important infrastructure finance issues for local governmental entities, including protecting the municipal bond tax-exemption, reinstating advance refunding for municipal bonds, and ending sequestration’s impact on Build American Bonds.

NACWA believes a unified, collaborative voice is essential on these fundamental infrastructure issues during this Congress and is pleased these conversations are already occurring with key Congressional committees. Please contact Kristina Surfus, NACWA Legislative Affairs Director, to discuss.