On Monday, the House of Representatives introduced the 2,300-page H.R. 2, titled the Moving Forward Act. CDFA led the charge advocating for bond financing provisions in this package, sending coalition letters to hundreds of Congressional offices. H.R. 2 includes a significant bond provisions title, signaling that Congress understands the importance of bond financing in rebuilding our nation's infrastructure. Most importantly, the Moving Forward Act includes CDFA's main legislative priority, the provisions in the Modernizing Agriculture and Manufacturing Bonds Act.

CDFA wishes to thank the many members and coalition partners across the country who sent letters and were dedicated to bringing our message of modernizing private activity bonds to Congress.

>>> Section-by-Section Summary of H.R. 2
>>> Full Text of H.R. 2
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Conservatives are digging in with the argument that reopening the economy is a better approach to battling the economic impact of the pandemic than a new round of federal aid to state and local governments would be. But the National League of Cities and other groups such as Moody's Analytics are warning that a nationwide economic recovery will be at risk of stalling if Congress fails to provide more aid.

The new Qualified Infrastructure Bonds, which are modeled after Build America Bonds, would have their direct-pay subsidies phase lower to 38% in 2025, 34% in 2027, and 30% permanently thereafter. The legislation also would restore tax-exempt advance refunding 30 days following enactment into law and authorize the issuance of $30 billion in qualified school infrastructure bonds (QSIBs) over three years.