LPPC Supports Legislation to Restore Tax-Exempt Advance Refunding for Municipal Bonds

LPPC supports the introduction of Representative David Kustoff (R-TN), Rudy Yakym (R-IN), Gwen Moore (D-WI), and Jimmy Panetta (D-CA)’s Investing in Our Communities Act. This legislation will restore tax-exempt advance refunding for municipal bonds, enabling public power utilities to build and maintain critical infrastructure to meet the rising demand for energy and help power America’s economy.

“As energy demand surges across the U.S., communities need a power supply that can keep up,” said Tom Falcone, LPPC President. “Municipal bonds are a proven, cost-effective way for not-for-profit public power utilities to build and upgrade the infrastructure that powers homes and businesses across the nation. Restoring advance refunding is a simple, commonsense fix that will lower borrowing costs and save 30 million electric customers an estimated $715 million over the next five years. LPPC thanks Representative Kustoff for his leadership in advancing this legislation and urges Congress to pass the Investing in Our Communities Act.”