Pascrell Meets with Treasury Secretary Lew on PABs

Private Activity Bond (PABs) Champion Rep. Bill Pascrell?talked to?Treasury Secretary Jacob Lew?about tax-exempt qualified private activity bonds?in the context of balancing the budget and creating jobs at the House?Budget Committee hearing yesterday.

Rep. Pascrell told Secretary Lew that he was pleased to see his PAB provision included in the budget request and discussed the need to replace aging infrastructure and to create jobs. Pascrell stated that $1.2 trillion is needed for water and wastewater infrastructure and told the Secretary that he is making a down payment on the investment with the PAB provision he recommended.?

Pascrell also told Lew the provision would create about 150,000 jobs and asked if that would help grow the economy.?Lew responded, ?When we are investing in businesses and growing jobs, we are growing the economy.?

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