SIFMA Commends Bipartisan Introduction of "LOCAL Infrastructure Act" to Support Municipal Refinancing

Steven Lofchie Commentary by Steven Lofchie

SIFMA commended the bipartisan introduction of the Lifting Our Communities through Advance Liquidity for Infrastructure (LOCAL Infrastructure) Act, which, if passed, would reinstate the advance refunding of municipal bonds. (See here for summary.) In a statement, SIFMA described the Act as a "critical tool" for local and state governments in reducing the costs of interest to facilitate the financing of critical infrastructure (i.e., schools, roads and hospitals). SIFMA stated that "this legislation is particularly welcome now, when state and local governments are facing unprecedented expenses due to the COVID-19 pandemic."

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