ASA Asks Senate for Swift Passage of S. 1117

S. 1117 addresses an issue of government regulation picking winners and losers. Because of this, municipalities are being forced to seek higher cost borrowing options, reduce their short-term capital consumption, and terminate infrastructure projects that benefit their communities. By forcing municipal investors out of prime and tax-exempt funds and into government funds, the SEC’s floating NAV rule has increased costs on taxpayers and businesses without any material benefit, other than creating artificial demand for U.S. government deficit spending.

 

ASA Letter in Support of S. 1117