November 16, 2017
WASHINGTON, D.C. – The National Association of State Treasurers (NAST) released the following statement today in response to the tax reform bill passed by the U.S. House of Representatives and its impact on infrastructure investments.
“State and local governments finance more than three-quarters of all U.S. infrastructure projects— primarily through tax-exempt municipal bonds— so NAST is pleased to see the House pass a tax reform bill that protects this important financial tool,” said NAST president and Oklahoma State Treasurer Ken Miller. “We are concerned, however, that changing the treatment of private activity bonds, advance refunding bonds, and tax credit bonds will have a negative impact on overall infrastructure spending. As the Senate finalizes their tax reform bill, we urge them to maintain the current treatment of these bonds to ensure the country is fully prepared to finance the Administration’s ambitious infrastructure plan in the year ahead.”
Earlier this month, NAST highlighted that the House tax reform bill preserved several other measures that state treasurers have worked diligently to advance, including popular retirement savings options and higher education benefits. To learn more, click here.
STATE TREASURERS OUTLINE INFRASTRUCTURE PRINCIPLES IN RESPONSE TO PRESIDENT TRUMP’S $1.5T PROPOSAL https://t.co/0YaZMKUsrG