Coalition takes bond message to Washington

In March, the Association of Metropolitan Water Agencies (AMWA) urged Congress to maintain tax-exempt municipal bond interest when lawmakers undertake a comprehensive tax reform bill, joining a letter sent to Capitol Hill organized by the U.S. Conference of Mayors’ “Don’t Mess With Our Bonds” coalition.

The letter, which was signed by the mayors, AMWA and nearly 20 other municipal and corporate organizations, noted the 100-year history of tax-exempt bond financing and warned that capping or eliminating the exemption would increase infrastructure financing costs to communities nationwide. It also noted that cities and towns in the U.S. issued $445 billion worth of municipal bonds in 2016 – a record amount.