Dearborn County Register: House Passes Messer Legislation to help Hoosier cities and towns save money on infrastructure projects
The U.S. House of Representatives today passed bipartisan legislation authored by Rep. Luke Messer (R-IN-06) to help Hoosier cities and towns save money on infrastructure projects.
The following story was published in the Dearborn County Register on Oct. 9, 2017. H.R. 1624, which is co-sponsored by Rep. Carolyn Maloney (D-NY-12), rolls back an Obama-era banking regulation that discouraged financial institutions from holding municipal bonds, which many state and local governments – including in Indiana – rely on to finance infrastructure projects. Messer’s bill reverses this regulation, making it more affordable for municipalities to invest in roads, bridges, hospitals and schools. “This bill will make it easier for Hoosier communities to fund needed infrastructure projects, and it will save taxpayer dollars,” said Messer, who serves on the House Financial Services Committee. The bill is supported by key stakeholders, including the U.S. Conference of Mayors, the National League of Cities, the National Governors Association, the Independent Community Bankers of America, the National Association of State Treasurers and Indiana State Treasurer Kelly Mitchell. H.R. 1624 bill would reclassify municipal bonds as high quality liquid assets to encourage banks to hold those assets, which will help ensure low-cost infrastructure financing remains available for state and local governments across the nation. |
