Infrastructure Rising to Top of Legislative Agendas
The White House announced it is developing a $1 trillion infrastructure proposal.
House Democrats are working on infrastructure legislation that could be ready for debate on the House floor by the end of June.
It is possible that municipal bond-friendly elements like the restoration of advance refundings, expansion of private activity bonds, an increase in the bank-qualified limit, and the development of a new Build America Bond (BAB)-like program, exempt from sequestration will be included in potential legislation.
Several elements still need to fall into place for these proposals to synchronize in a coherent and politically acceptable form. However, the existing timing and circumstances are a conceivable platform for a sizeable municipal bond-friendly infrastructure agreement that could boost the overall economy and provide jobs.