AGC Fights to Maintain Infrastructure Tools in Tax Reform

PABs, Advanced Refunding & Historic Tax Credit
This week, AGC—along with a broad group of stakeholders—urged congressional leaders to maintain key provisions in the tax code that help finance infrastructure projects throughout the country.  Among others, AGC addressed maintaining the tax exempt status of Private Activity Bonds (PABs). PABs are a traditional means of tax exempt financing for surface transportation projects, airports, ports facilities, water and wastewater facilities, and multi-family housing projects. PABs and their tax exempt status were eliminated in the House bill, but maintained in the Senate bill.
AGC also continues to push to maintain the use of Advanced Refunding of Municipal Bonds, which is a tool that allows states and localities to free up borrowing capacity for new investment in infrastructure by taking advantage of lower interest rates on outstanding debt. Advanced Refunding was eliminated in both the House and Senate bills.  Additionally, AGC continues to push to maintain another tool – the Historic Tax Credit – as the House bill eliminates the credit and the Senate bill severely restricts its use.
Contact your Representative and Senators and tell them to not slash these important incentives for public and private construction.
For more information, contact Sean O’Neill at oneills@agc.org or (202) 547-8892.


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