Congresswoman Moore Introduces Bipartisan Legislation to Expand Sources of Capital for State and Local Government Public Works Investments

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Washington, September 25, 2019 | comments

Congresswoman Moore Introduces Bipartisan Legislation to Expand Sources of Capital for State and Local Government Public Works Investments

Congresswoman Moore introduced bipartisan legislation to expand how money market funds can be used as a source of capital for public infrastructure projects. The Securities and Exchange Commission’s new rule restricts money market funds, which increases the cost for state and local governments to issue municipal bonds. Rep. Moore released the following statement:

“The American Society of Civil Engineers (ASCE) estimates that the U.S. will need to invest $1.5 trillion in infrastructure projects by 2025. To make these needed investments, state and local governments need access to affordable capital.

This legislation will expand financial opportunity, allowing state and local governments to improve infrastructure around the country.”

Source: Infrastructurereportcard.org

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