For Immediate Release
Letter Sent By More Than 150 Members of Congress Urges The Preservation Of Tax-Exempt Municipal Bonds To Finance Crucial Infrastructure Projects
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) commended more than 150 Members of Congress today for sending a letter to the U.S. House Ways and Means Committee leadership, urging them to preserve the tax-exempt status of municipal bonds as the committee considers tax reform and infrastructure financing.
“Tax-exempt municipal bonds are the single most important tool we have to finance critical infrastructure projects, so state treasurers are encouraged that a growing, bipartisan Congressional delegation have recognized the need to preserve this vital funding mechanism,” said NAST President and Oklahoma State Treasurer Ken Miller. “NAST would like to thank Reps. Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD), co-chairs of the Municipal Finance Caucus, for leading this effort so that state and local governments can continue financing projects that keep our communities strong.”
NAST Senior Vice President and Vermont State Treasurer Beth Pearce added, “As lawmakers on Capitol Hill consider tax reform and infrastructure spending, NAST looks forward to working with this bipartisan Congressional delegation to ensure that municipal bonds remain tax-exempt for years to come.” A copy of the letter sent to the U.S. House Committee on Ways and Means leadership is attached. To learn more about the Congressional Municipal Finance Caucus, click here.
The National Association of State Treasurers seeks to provide advocacy and support that enables member states to pursue and administer sound financial policies and programs benefiting the citizens of the nation. Membership is composed of all state treasurers or state finance officials with comparable responsibilities from the United States, its commonwealths, territories, and the District of Columbia. The private sector is represented through the Corporate Affiliate Program that was established to build professional relationships and foster cooperation between the public and private sectors. The association serves its members through educational conferences and webinars, a variety of working groups, policy advocacy and publications that provide information about developments in public finance.