Government Finance Officers Association
Airports Council International-North America
American Hospital Association
American Public Power Association
American Public Transportation Association
American Public Works Association
American Society of Civil Engineers
American Water Works Association
Association of Public & Land-Grant Universities
International City County Management Association
International Public Management Association for Human Resources
Large Public Power Council
National Association of College and University Business Officers
National Association of Counties
National Association of Regional Councils
National Association of State Auditors Comptrollers and Treasurers
National Association of State Treasurers
National Association of Towns and Townships
National Council of Clean Water Agencies
National Council of State Housing Agencies
National League of Cities
National School Boards Association
National Association of Health and Educational Facilities Finance Authorities
The United States Conference of Mayors
Bond Dealers of America
Securities Industry and Financial Markets Association
National Association of Municipal Advisors
National Association of Bond Lawyers
Dear Chairman Neal and Ranking Member Brady,
The Public Finance Network, which consists of state and local governments and other tax-exempt bond issuers, borrowers and municipal market professionals, appreciate your commitment to finding real answers for our nation’s growing infrastructure needs. Members of the organizations listed above rely significantly on the federal partnership represented by the tax-exemption for municipal bonds and the infusion of federal grant dollars that support the development of infrastructure for their communities.
During the Committee’s January 29 hearing, lawmakers and panel experts concurred that any possible solution is worth exploring to fill the dearth of capital resources faced by cities, counties, states, education, transportation authorities, hospitals, utilities, housing, and other entities providing critical infrastructure. We were pleased to hear that representatives and experts agreed that components of our existing federal partnership can be part of the solution, including:
- Relying on the municipal bond tax exemption because it has the capacity to support our nation’s infrastructure needs
- Restoring the ability for governments and other qualifying entities to advance refund tax-exempt municipal bonds
- Restoring and expanding the use of Build America Bonds (BABs) and ending their exposure to sequestration
- For small issuers and borrowers, increasing the bank qualified borrowing limit from $10 million to $30 million, and having it apply at the borrower level
- Maintaining popular grant programs that support capital investment
Tax-exempt bonds are issued to pay for capital needs that directly benefit our communities. Billions of dollars are saved across tens of thousands of governmental entities through the issuance of tax-exempt bonds every year. Funding and financing infrastructure will remain an issue of paramount importance for many years to come. We applaud this committee’s dedication to investigate these solutions and look forward to working with the Committee and our other federal partners to ensure our communities continue to thrive.
Sincerely,
Government Finance Officers Association, Emily Swenson Brock, 202-393-8467
Airports Council International-North America, Annie Russo, 202-293-8500
American Hospital Association, Mike Rock, 202-638-1100
American Public Power Association, John Godfrey, 202-467-2929
American Public Transportation Association, Mark Hybner, 202-496-4865
American Public Works Association, Andrea Eales, 202-408-9541
American Society of Civil Engineers, Joe Brady, 202-789-7852
American Water Works Association, Tommy Holmes, 202-326-6128
Association of Public & Land-Grant Universities, Craig Lindwarm, 202-468-6032
Bond Dealers of America, Brett Bolton, 202-204-7902
International City/County Management Association, Elizabeth Kellar, 202-962-3611
International Public Management Association for Human Resources, Neil Reichenberg, 703-549-7100
Large Public Power Council, John DeStasio, 512-707-1010
National Assn. of Health and Educational Facilities Finance Authorities, Chuck Samuels, 202-434-7311
National Association of Bond Lawyers, Jessica Giroux, 202-503-3290
National Association of Clean Water Agencies, Kristina Surfus, 202-833-4655
National Association of College and University Business Officers, Elizabeth Clark, 202-861-2553
National Association of Counties, Eryn Hurley, 202-661-8805
National Association of Municipal Advisors, Susan Gaffney, 703-395-4896
National Association of Regional Councils, Leslie Wollack, 202-618-5696
National Association of State Auditors, Comptrollers and Treasurers, Cornelia Chebinou, 202-624-5451
National Association of State Treasurers, Brian Egan, 202-630-1880
National Association of Towns and Townships, Aindriu Colgan, 202-261-3690
National Council of State Housing Agencies, Garth Rieman, 202-624-7710
National League of Cities, Irma Diggs, 202-626-3023
National School Board Association, Deborah Rigsby, 703-838-6208
Securities Industry and Financial Markets Association, Bradley Edgell, 202-962-7335
The United States Conference of Mayors, Larry Jones, 202-861-6709
