US Senators Introduce Infrastructure Bonds Bill

Legislation that would create certain “direct-pay” taxable municipal bonds as a way to finance public projects during the pandemic was recently introduced by two key senators.

Specifically, state and local governments would be allowed to issue taxable bonds for public purposes eligible to be financed by tax-exempt bonds under the American Infrastructure Bonds Act. Officials would be able to utilize the bonds for projects, such as roads, bridges and broadband.