By tomorrow, the Senate bipartisan infrastructure bill is expected to pass the Senate, setting up a September fight to get the package through the House prior to the Highway Trustfund running out of funding on September 30th. While the American Infrastructure Bond amendment did not receive a vote during the prolonged debate, the package includes…
Author: Bond Dealers of America
NOW AVAILABLE: Fixed Income Insights Digital Magazine – Summer 2021
The BDA’s quarterly digital magazine, Fixed Income Insights, is now available right here by clicking on the image. It can also be viewed on the new BDA app, which can be downloaded in the Apple store, Google play store, and Amazon app store. This month’s edition contains articles by the industry’s top contributors and relevant topics:…
Direct Pay Amendment Introduced in Senate
Today, Senator Roger Wicker (R-MS) introduced an amendment to the bipartisan infrastructure agreement that would create a new direct-pay bond, the American Infrastructure Bond. The AIB’s would have a flat 28% reimbursement rate. While not exempt from sequestration, the text provides the ability to increase reimbursement rates to offset any potential negative impacts in the…
The Washington Weekly – PABs Included in Infrastructure Compromise
Defying all odds, the 50/50 split Senate and the Biden Administration has reached an agreement on a bipartisan infrastructure package and moved into the formal debate by a vote of 62-37. The 1 trillion dollar package, including nearly $600 billion in new spending, would also expand usage of private activity bonds for various purposes, including raising…
Bipartisan Infrastructure Package Clears First Hurdle in Senate – Current Agreement Includes Multiple PAB Provisions
Last night, the Senate voted 67-32 to move the bipartisan infrastructure agreement to debate without full legislative text – a key step in advancing the $1 trillion dollar package. This vote sets up an extensive debate process, kick-starting a week’s worth of debate and more compromise, in an effort to get the package across the…
No Muni Provisions in Latest Infrastructure Counter Offer – Bipartisan Infrastructure Talks Falter Searching for Offsets
This weekend, bipartisan infrastructure negotiations continued with Senate Democrats and the White House presenting their “global offer,” an extensive list of revenue compromises, which includes removing all bond provisions from the agreement outline amongst other changes to the spending plan. The original bipartisan agreement included provisions that would raise the PABs cap for transportation purposes and create…
Senate Negotiators Push to Delay Infrastructure Vote – Key Differences May Imperil Bipartisan Legislation
This afternoon, Senate Majority Leader Schumer is expected to bring the bipartisan infrastructure agreement to the floor for a vote of cloture, a vote that would advance the agreement to debate in its current state without legislative text. This vote is expected to fall short of the needed 60 votes to advance. Senate negotiators continue…
The Washington Weekly: Deal or No Deal?
Following the 4th of July holiday recess, the Senate is back in Washington, DC, and has already failed to meet its self-imposed deadline to turn the bipartisan infrastructure agreement into legislative text–a key next step in the legislative progress. While this may not be detrimental to the long-term prospects of the deal, every day that…
Expectations for Municipals and Infrastructure
Congress continues to take steps towards introducing bipartisan infrastructure legislation. This week, Senators are expected to meet and discuss potential pay-for planning to finish drafting the legislative package by next week. News of some muni provisions being included in the initial outline is a step in the right direction, however many questions remain regarding the…
Critical Week for Bipartisan Infrastructure Legislation – BDA and MBFA Continue to Promote Muni Priorities
As Congress returns from a 2 week July 4th recess, it’s make or break time for infrastructure legislation in 2021. With only 8 legislative days left before the month-long August recess, this week should prove crucial in determining the next steps, including key muni bond provisions. The BDA and MBFA continue to press for the…