APWA Opposes Effort to Change Municipal Bonds
On November 8, APWA and five other associations in the water sector sent a letter to House Committee on Ways and Means Chairman Kevin Brady (R-TX). The letter specifically asks Chairman Brady and all members of the Committee on Ways and Means to oppose proposed language in H.R. 1, the House tax reform proposal, that would repeal the ability to advance refund municipal bonds.
Municipal bonds are a fundamental financing tool for water and wastewater – critical public services with significant investment needs that are projected to grow over the coming decade. In 2016 alone, nearly $38 billion in tax-exempt municipal bonds were issued for water and wastewater projects, helping local communities meet critical infrastructure needs. The language included in H.R. 1 would negatively impact public works departments across the country, making less money available for utility investment and/or significant savings of water ratepayer and taxpayer dollars.
APWA is joined on the letter by the National Association of Clean Water Agencies (NACWA), the Association of Municipal Water Agencies (AMWA), the Water Environment Federation (WEF), the American Water Works Association (AWWA), and WaterReuse.
You can read the letter here
, and see additional content on the impact of the House tax proposal on public works departments on the APWA website