ASA Applauds Chairman Hill, HFSC Leadership for Prioritizing Muni Bond Tax Status

WASHINGTON – The American Securities Association (ASA) today applauded House Financial Services Chairman French Hill (R-AR) and Committee leadership for sending a letter to House Ways and Means Chairman Jason Smith (R-MO) fully supporting maintaining the tax-exempt status of municipal bonds as tax policy discussions move forward.

“ASA applauds Chairman Hill and the House Financial Services Committee for its leadership to protect the tax-exempt status of municipal bonds, a key lifeline for communities across the country to affordably modernize their communities for America’s working families,” said ASA President and CEO Chris Iacovella.  

“Tax-exempt municipal bonds have a proven track record of responsible, community-driven investment,” wrote Chairman Hill and Committee leadership. “They are a fiscally sound tool that enables state and local governments to meet the growing needs of their communities without increasing federal spending or burdening local taxpayers. Therefore, we urge your support in preserving the federal tax-exemption for municipal bonds.”

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.