Washington, D.C., April 22, 2021 – SIFMA today released the following statement from president and CEO Kenneth E. Bentsen, Jr. on the reintroduction of the “American Infrastructure Bonds Act”:

“SIFMA commends Senators Roger Wicker (R-MS) and Michael Bennet (D-CO) on their commitment to infrastructure investment, seen today with the reintroduction of the American Infrastructure Bonds Act, and further appreciates Senators Roy Blunt (R-MO), Shelly Moore Capito (R-WV), Tim Kaine (D-VA), Cynthia Lummis (R-WY) and Debbie Stabenow (D-MI) for their support as co-sponsors of the bill. This bill authorizes a direct-pay subsidy for American Infrastructure Bonds, which allows state and local governments to attract taxable bond investors, such as insurance companies, pension funds and foreign investors, to invest in infrastructure projects.  Increasing the demand for municipal securities is particularly helpful now, as state and local governments are experiencing much higher costs due to the COVID-19 pandemic.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s nearly 1 million employees, we advocate for legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.