Municipal bonds still have a role to play in financing infrastructure despite the billions unleashed by the new federal law and state and local governments that are brimming with cash. “There is of course the need to leverage this money in order to get projects done,” said Patrick Brett, managing director of municipal debt capital markets at Citigroup, during an online briefing on the deployment of the Infrastructure and Investment Jobs Act hosted by the Volcker Alliance and Penn Institute for Urban Research. The $1.2 trillion IIJA includes about $550 billion in new money, which will be spent over the next five years, roughly $100 billion a year, Brett said. Brett is also chair of the Municipal Securities Rulemaking Board, but was not acting in that capacity.
Source: The Bond Buyer
