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WASHINGTON, D.C. – The American Securities Association (ASA), in advance of today’s U.S. House Committee on the Budget hearing, released the following statement from ASA President & CEO Chris Iacovella on the impact of immigration on municipalities, their budgets, and the cost of municipal bonds to fund projects in their communities.
“As the nation grapples with mass immigration, its financial implications extend beyond political discourse and into the economic fabric of cities, states, and towns across the country. Municipalities have become overwhelmed by the increase in their population and are finding their budgets and the ability to provide basic services stretched to their outer limits. If something doesn’t change, then, one way or another, this will cause an increase in costs for municipalities and the people who call those communities home. We ask lawmakers to focus on how this aspect of immigration is impacting the American economy- on the local, state, and national level.”
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About the American Securities Association
American Securities Association, based in Washington, DC, 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.