Muni market participants asked Congressional leaders to use a stimulus bill as an opportunity to push muni bond initiatives and increase infrastructure efforts amid economic stress caused by COVID-19.
In a letter sent by the Public Finance Network to Congressional leadership Thursday afternoon, the group asked for the restoration of tax-exempt advance refunding, an increase in the cap for bank-qualified debt, and the creation of new direct-pay bonds shielded from sequestration.
“If Congress manages to get a quick bill out this week, these in the weeds provisions may make it in,” said Emily Brock, director of the Government Finance Officers Association’s federal liaison center. “If not, we do legitimately believe that these are the sorts of things that can free up state and local resources. In addition, those resources could be used to address the pandemic that is upon us.”
(Read more: The Bond Buyer)
