A $760 billion infrastructure plan packed with help for the public finance sector is being offered by House Democrats as the legislative vehicle for fourth coronavirus emergency spending bill that would focus on economic stimulus.
The five-year spending plan Democrats originally proposed at the end of January calls for reinstating advance refunding, Build America Bonds and tax credit bonds. It also would expand qualified private activity bonds, allow a to-be-decided increase in airport passenger facility charges and $40 billion more for State Revolving Funds that finance water projects.
Speaker Nancy Pelosi told reporters in a conference call Wednesday that new additions that would increase the original price tag of the package include $10 billion for construction of new community health centers.
The coronavirus health emergency has exposed gaps in the nation’s healthcare system and the need for universal high speed broadband, Democrats said. The original package already set a goal of achieving universal high speed broadband.
(Read more: The Bond Buyer)

Groups representing states and localities are urging the Federal Reserve and Treasury to create new programs to buy a wider range of securities and help municipalities grappling with revenue delays due to the coronavirus.
In a letter sent to the Fed and Treasury this week, the National Association of State Treasurers, Government Finance Officers Association and the National Association of State Auditors, Comptrollers and Treasurers pushed for the Fed to buy munis on secondary market and create a financing program to help municipalities struggling with late revenues.
“As you know, an historic cash panic, prolonged paralysis in the primary municipal bond market, and impending budget shocks stemming from the pandemic have all culminated at once, forcing many businesses and nearly every state and local government into an unprecedented state of damage control,” the groups wrote in the letter. “Absent support for the municipal debt market, state and local government budgets will be further stressed at the most inopportune time, particularly as revenues decline as a result of business closures and rising unemployment.”
(Read more: The Bond Buyer)