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…
Category: MBFA
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…
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…
Infrastructure Deal Within Reach – Muni Provisions Remain a Priority
A bipartisan group of 21 Senators has come to a soft agreement with the Biden Administration on a $1 trillion infrastructure package. While the deal has yet to receive support from Congressional Leadership, this is a promising step. The group plans to meet with the President this afternoon. The framework includes nearly $600 billion in…
Direct Pay Bonds and PABs Remain in Spotlight – Other Muni Provisions Expected to Receive Continued Support
As noted yesterday, a bipartisan group of 21 senators released the latest infrastructure compromise, a $1 trillion package with nearly $600 billion of new spending. While light on pay-for details, the package did include some details on how the group plans to finance the plan, which includes a new direct-pay bond and references to increased private investment…
Bipartisan Senate Group Releases Updated Infrastructure Proposal
Last night, a group of 21 Senators released their much-anticipated infrastructure compromise. The package comes with a price tag of $1.2 trillion dollars, including over $570 billion in new spending. The package allocates $110 billion on roads and bridges, $66 billion on the rail, and $48.5 billion on transit as well monies for Democratic priorities…
Infrastructure in America – Case Studies of Municipal Bonds Efficiency, Low Cost, and Benefits
As part of its ongoing Infrastructure in America: Munis Since 1812 initiative to highlight bond-financed infrastructure, the Municipal Bonds for America Council is featuring a G.O. Bond issuance that funded a major reconstruction and development project in Waukegan, IL. Bernardi Securities served as the Senior Manager. Click the image below to learn more about this project. Waukegan, IL…
Infrastructure and Municipals Expectations and Predictions for the Remainder of 2021
Many questions remain unanswered as we enter the 6th month of infrastructure discussions with little tangible accomplishments achieved. While some compromise has been reached in recent weeks, frankly, both parties remain miles apart and the most likely outcome is an infrastructure spending bill passed via reconciliation with only Democratic votes. However, that as well remains…