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.

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