National Association of Towns & Townships

Municipal Bonds

Tax-Exempt Municipal Bonds
NATaT supports maintaining and preserving tax-exempt municipal bonds. Tax-exempt municipal bonds are how our towns and townships – and other local governments across the country – can fund critical infrastructure projects in our communities.

Advance Refunding Bonds
While Members of Congress preserved tax-exempt municipal bonds in 2017’s Tax Cut and Jobs Act, they eliminated a tool that towns and townships use in conjunction with municipal bonds to save money for our constituents. Advanced refunding bonds enable local governments to refinance bond issues and take advantage of more favorable interest rates. This saves our constituents money because it reduces the long-term costs of infrastructure projects like roads, bridges, and fire stations, and allows us to pour those savings back into our communities.

Municipal Finance Caucus
NATaT supports the efforts of the House Municipal Finance Caucus as a forum to discuss the opportunities and challenges for states and local governments to independently fund initiatives that strengthen their communities and to advocate for bipartisan policies that enhance their access to the capital markets.


FAST Act Reauthorization The current surface transportation authorization law (FAST Act, P.L. No. 114-94) runs through September 30, 2021). As Congress works on FAST Act