President Biden recently unveiled a summary blueprint of the American Jobs Plan, a large $2 trillion proposal to modernize the national infrastructure network. The blueprint outlines an inclusive plan that would target investment for traditional infrastructure projects like roads, bridges and transit — but also addresses water, broadband and electric upgrades.
Today’s announcement focuses on high-level goals of the plan and does not specifically mention plans to expand tax-exempt municipal bonds. It does offer some details on potential “pay fors,” including an increase in the corporate income tax rate to 28 percent. The plan is also expected to be coupled with another large infrastructure plan directed at education and health improvements.
We will continue to keep members informed as additional details emerge. NAST continues to strongly advocate for the inclusion of a full reinstatement of tax exempt advance refunding bonds in any forthcoming infrastructure package.