LPPC Urges Congress to Consider Public Financing Tools in any COVID-19 Economic Stimulus Bill
The Large Public Power Council (LPPC) co-signed a letter to Congress on March 12 calling on lawmakers to include temporary extension and permanent restoration of proven, financing tools as they draft legislation to provide our nation with economic relief during this time of crisis.
Specifically, LPPC urges Congress to restore advance refund tax-exempt municipal bonds which will free up billions of dollars that public power- as well as many other public entities such as state and local governments, hospitals, and schools - can spend on largescale projects in communities across America.
LPPC also calls on Congress to restore and expand the use of direct pay bonds and end their exposure to sequestration. This would immediately create an attractive investment option for thousands of local projects.
While the full impact the COVID-19 virus will have on the economy remains uncertain at this time, a major infrastructure plan could certainly create a stimulating effect in the near term. As operators of critical infrastructure, LPPC members will be on the frontlines of rebuilding our local economies and we would support action taken by the federal government to enable public power entities with access to these financing tools.