September 7, 2016
Since the first municipal bond was issued in the United States by New York City in 1812 to fund the construction of a canal, municipal financing has played a critical role in our nation’s development and has set us on the forefront of commerce and investment. The funding source underpins the vast network of highways, hospitals, airports, bridges, telecommunications towers and other critical infrastructures that crisscross our nation, delivering essential services and uniting millions of Americans.
The purpose of the Municipal-Finance Caucus is three-fold: First, to recognize the vital contribution that municipal financing has played in the evolution of the United States. Secondly, to protect a century’s old tax-exemption that has driven our economy, spurred job growth, funded critical infrastructure projects and enhanced the quality of life. And finally, using the legislative process to support an open forum where Members of Congress are able to discuss, identify and promote common sense policy solutions to strengthen municipal financing for all Americans.
Members of the Caucus believe that the key to a strong America lies in equipping and empowering local government with the tools to thrive.