Austin Partner Adam Harden was quoted by Law360 in an article discussing the potential reinstatement of instruments used in tax-exempt advance refunding bonds supported by comments made by recently confirmed Transportation Secretary Pete Buttigieg. Harden noted that before 2018, all parts of the tax-exempt bond market used tax-exempt advance refunding bonds as a financing method that generated hundreds of billions of dollars in interest cost savings. He also stated that these bond issuers included public school districts, cities, hospital systems and other core infrastructure providers facing financial challenges due to the COVID-19 pandemic.
Harden said restoring tax-exempt advance refunding bonds is the bond community's clear policy priority in 2021.
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