Status of Municipal Bond-Friendly Elements and the American Jobs Plan
A three-part Build Back Better legislative agenda is gradually being introduced (and enacted) by the White House.
President Biden introduced the second part, The American Jobs Plan of 2021, with an initial cost of about $2.65 trillion. Bipartisan consensus for such a large package remains unlikely.
The inclusion of municipal bond-friendly elements like the reinstatement of tax-exempt advance refundings and a new taxable direct pay bond, among other related items, remains possible. It is most probable that municipal-friendly elements would be folded into a larger infrastructure-focused package, although some have been introduced independently.