The BDA, along with our partners in the state and local government have been tireless pushing for municipal market priorities on Capitol Hill and within the Administration.  Since the elimination of tax-exempt advance refundings in the 2017 Tax Cuts and Jobs Act, the reinstatement of this provision has remained the top priority of the BDA, as well the PFN. The BDA and the PFN continue to call for language included H.R. 2772, the Investing in Our Communities Act, in the next stimulus or any infrastructure measure. As state and local governments enter into unchartered territory, with extreme downward pressure on credit, having the ability to refinance outstanding debt will only work favorably to help struggling entities invest:
As the BDA has been supportive in the drafting of legislation that would reinstate advance refundings, the BDA continues to press Congress to increase the limit of BQ debt and remains vocal for the need of expanded use of PABs and urges Congress to continue exploration into a new BABs program unattached to sequestration.  The BDA and the broader PFN group will continue to provide direction to decision makers on Capitol Hill, and will continue to advocate for all member priorities.
Muni Market Advocacy
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