Additional Fly-In Dates Announced Below!
Yesterday, the BDA hosted its first fly-in of 2025, where we met with key Congressional staff and Members of Congress involved in developing the pending tax legislation in both the House and Senate. The meetings were productive and we found that staff was well informed and receptive to key BDA priorities.
While munis have support on the Hill, we were reminded consistently that everything remains on the table and staff are actively looking for any policies that can be eliminated to pay for extending the 2017 Tax Cuts and Jobs Act.
*View BDA’s Fly-In Coverage In Bloomberg News here*
For the purposes of this fly in, we focused on:
- Protecting and advancing the tax-exemption for municipal bonds, and
- Ensuring Congress understands the importance of private activity bonds and is working to preserve this vital economic development tool.
Key Meetings Included:
- House Committee on Ways and Means Majority Tax Staff
- Senate Finance Majority Tax Staff
- Rep. David Kustoff
- Office of Senator John Cornyn
- Office of Senator Thom Tillis
Some key notes from the meetings include:
- Tax writers are well informed on the tax-exemption (for munis and PABs) and its benefits
- General support remains for both issues, but questions persist about certain sectors of the private activity bond market ie 501(c)(3) bonds, but the BDA worked to dispel any misinformation about PABs
- Everything remains on the table to be used as a pay-for
- Rep. Kustoff plans to introduce bipartisan legislation to restore tax-exempt advance refundings this month in an effort to bring light to munis and show House Ways and Means support for the issue
- While Leaders continue to show confidence publically about the tax bill advancing quickly, staff indicted that is not likely
The BDA was represented by:
- RBC Capital Markets
- HilltopSecurities
- Loop Capital Markets
- Edward Jones
- FHN Financial
- Fifth Third Securities
- Raymond James Financial
As the tax debate continues, the BDA is planning regular member fly-in’s throughout 2025. We are excited to announce the next 3 dates today:
- Thursday, April 10th
- Thursday, June 12th
- Thursday, Sept: 18th
If you or your firm is interested in getting involved with our advocacy efforts, including upcoming Capitol Hill fly-ins please contact Brett Bolton at bbolton@bdamerica.org.
