ASA Welcomes President Biden’s Infrastructure Agenda

ASA applauds President Biden for rolling out the Administration’s infrastructure agenda and for making infrastructure a top legislative priority.

WASHINGTON – The American Securities Association (ASA) today applauded President Biden and welcomed his infrastructure agenda ahead of the President’s speech in Pittsburgh outlining the Administration’s “American Jobs Plan.”

“Investing to modernize America’s infrastructure will create good-paying jobs for working families, stimulate economic growth, protect the environment and public health, and improve quality of life in communities across the country,” said ASA CEO Chris Iacovella. “ASA applauds President Biden for rolling out the Administration’s infrastructure agenda and for making infrastructure a top legislative priority. We look forward to working together to lead America into the future.”

In addition to welcoming President Biden’s infrastructure agenda, ASA today sent a letter to Treasury Secretary Yellen and Transportation Secretary Buttigieg urging the Administration to incorporate ASA’s Infrastructure Modernization Agenda into any final infrastructure package. Municipal bonds are a key pillar of the ASA’s Infrastructure Modernization Agenda, as they support jobs and economic opportunities in local communities, enable upgrades to failing facilities, and facilitate investment in important energy initiatives. These policies have wide bipartisan support across the industry and Congress.

Specifically, ASA urged the Administration to:

• Maintain the Municipal Bond Interest Tax Exemption;

• Avoid Legislating a Federal Infrastructure Bank;

• Reinstate Advance Refundings for Municipal Bonds;

• Renew Build America Bond Program;

• Ensure Municipal Bonds Continue to Promote Environmental and Social Objectives;

• Expand the Threshold for Municipal Bonds to be Bank-Qualified; and

• Expand Eligibility and State Allowances for Private Activity Bonds.
  

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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/.