ASA Statement on Infrastructure Framework

Calls on Congress to kill federal infrastructure bank idea.

WASHINGTON – The American Securities Association (ASA) today welcomed the bipartisan infrastructure framework and called on Congress to kill the federal infrastructure bank idea as the bill moves through the legislative process.

“ASA applauds the White House and group of 10 Senators for coming together on a bipartisan infrastructure agreement that will create good-paying jobs, expand opportunity for America’s working families, and lead our country into the future,” said ASA CEO Chris Iacovella. “We have great concern about the inclusion of the Repair Act’s misguided federal infrastructure bank in the bill and we urge all members to immediately call for its removal.”

“Rather than creating a centralized bureaucracy to dictate funding from Washington, the federal government should instead promote and encourage the use of taxable municipal bonds for infrastructure projects. ASA’s regional financial services members have a long history of successfully financing ‘hard’ infrastructure investments and are more than ready to do so again.”

Earlier this year, ASA unveiled its Infrastructure Modernization Agenda, detailing municipal bond provisions key to funding America’s future. Additionally, ASA CEO Chris Iacovella recently penned an op-ed for the Bond Buyer outlining how municipal bonds are key to America’s infrastructure modernization opportunity.

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ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.