This week, the MBFA coalition submitted comments promoting and advancing municipal bonds to the House Ways and Means Community Development Tax Working Group Chaired by Rep. Mike Kelly (R-PA). The Tax Working Groups were created by Committee Chair Jason Smith (R-MO) to study key provisions from the 2017 Tax Cuts and Jobs Act in preparation for broad…
Category: MBFA
DC Update: Biden Ignites Tax Debate in State of the Union Address
Last night, President Biden kick-started the debate on the Tax Cuts and Jobs Act. Many provisions of the 2017 tax bill expire on December 31, 2025, including all the personal tax provisions, setting the stage for additional tax reform next year. While key BDApriorities were not discussed, the President laid out key Democrat parameters for…
Muni Provisions Advanced in Ways and Means Reconciliation Package – Legislation Now to be Debated by Full House
After 5 days of Committee debate on tax and revenue provisions for the massive infrastructure-focused budget reconciliation package, yesterday afternoon Ways and Means advanced their portion of the package. In a press release following the Committee work, Chairman Neal touted the package and promoted the municipal bond provisions included in the bill as a key…
Ways and Means to Debate Muni Provisions Today – MBFA Continues to Advocate for Key Priorities
This morning, the House Committee on Ways and Means will host a hearing to “mark-up” or debate and amend the tax portion of the budget reconciliation package. This weekend, Chairman Richard Neal (D-MA) released the text for the revenue provisions, and the draft included a plethora of muni provisions, including ALL BDA, MBFA, and state…
Ways and Means to Begin Reconciliation Debate – Tax Draft Expected Next Week
House Ways and Means today announced that the Committee will mark-up, or work to finalize, the initial reconciliation draft beginning on Thursday of this week. The Committee will begin with major components of the Biden Build Back Better agenda, tackling issues such as paid leave, healthcare, and trade. While the tax title, the portion of…
Legislative Path Forward for Key Muni Legislation
Yesterday, the House advanced the $3.5 trillion budget reconciliation framework, a legislative vehicle to be used for additional infrastructure spending after weeks of back-and-forth between a small caucus of Democratic moderates and House Leadership. The group pushed for a vote on the Senate bipartisan infrastructure package before advancing the budget framework, however, conceded, pushing the…
House Returns to Debate Infrastructure Legislation – MBFA and BDA Continue to Advocate for Muni Priorities
Today, the House returns from August recess for a week-long session to debate budget reconciliation instructions and voting rights legislation. At this time, House leadership remains steadfast in their position that the Chamber will not debate the Senate bipartisan infrastructure package until the budget reconciliation package, which will serve as a vehicle for additional infrastructure…
House Expected to Return Early for Infrastructure Debate – MBFA Meets with Key House Office
Next week, the House is expected to return from August Recess early for a week-long session to debate multiple infrastructure packages’ processes and potential passage. This includes the Senate passed bipartisan 1 trillion dollar infrastructure package that includes $600 billion in new money and relies heavily on PAB financing. The Chamber also passed a budget reconciliation…
Bipartisan Infrastructure Package Set to Pass Senate – Bill Includes Expansion of PABs
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…
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…