CDFA Legislative Briefing - June 2021
Speakers on this Briefing
This CDFA Legislative Briefing took place on June 16, 2021. We discussed the status of the infrastructure bill and CDFA's latest efforts on Capitol Hill. We also outlined important action items that you can take to ensure that bond financing provisions are included in the infrastructure bill.
Please sign our coalition letter
to show your organization's support for including key tax-exempt bond provisions in the infrastructure bill.
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CDFA and our coalition of partners are asking Congress to include the following measures in the infrastructure bill:
- Include a Bond Finance Title in the Infrastructure Bill
It is imperative that bonds be a primary financing mechanism for major infrastructure projects, as the comparatively low-cost capital offered by tax-exempt bonds cannot be replicated by other means of financing. Tax-exempt bonds are the foundation of public finance and must play a major role in financing the modernization and expansion of America’s infrastructure.
- Modifications to Small Issue Manufacturing Bonds & Agricultural Bonds
The six reforms contained in MAMBA will update the regulations for IDBs and Aggie Bonds to align with the needs of modern small manufacturers and agricultural producers. MAMBA will expand the capacity and usability of IDBs and Aggie bonds to help create American manufacturing and agricultural jobs immediately, both of which will contribute to the expansion of infrastructure.
- Create a New Bond Category for Electric Vehicle Charging Stations
The creation of a new exempt facility bond category for electric vehicle (EV) charging stations would accelerate the nationwide rollout and expansion of this green infrastructure, resulting in job creation while furthering the Biden Administration’s carbon emission reduction targets.
- Reinstate Advance Refunding Bonds
Reinstating tax-exempt advance refunding bonds would allow state and local governments to refinance or consolidate existing bond obligations, which will increase their debt capacity and make more capital available for infrastructure projects.
Including these necessary tax-exempt bond provisions in the infrastructure bill will expand development agencies’ access to low-cost financing for infrastructure projects, which will also lead to a faster economic recovery from the COVID-19 pandemic by creating jobs. CDFA originally made these recommendations in our Policy Priorities for the Biden-Harris Administration
If you have any questions, please contact CDFA
View Slides from this Briefing