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APTA Supports Tax-Exempt Municipal Bonds for Infrastructure Investments

APTA recently joined 28 other associations and nonprofit organizations in a letter distributed to every member of Congress supporting the continued use of tax-exempt municipal bonds to finance repairs and construction of a wide range of public facilities and systems, from public transportation, roads, bridges and airports to schools, hospitals, housing and libraries.

“As the new administration and Congress seek ways to increase infrastructure investments, we would note an incredibly powerful tool already in hand—tax-exempt municipal bonds,” the letter stated.

The letter called the bonds “a fundamental component of our nation’s intergovernmental partnership” and “a bedrock by which state and local governments, authorities and nonprofits of all sizes can cost-effectively access the capital markets and in turn provide essential infrastructure for their citizens.”

Such bonds have financed more than $2 trillion in new infrastructure investments over the past 10 years, the letter noted, and are poised to finance another $2 trillion in the next 10 years, making them ideal instruments to fund community-specific infrastructure needs and encourage the development of P3s and other alternative financing models.

“State and local governments have been laboratories for innovative finance and have many insights to share,” the letter stated.
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