Co-Chairs: Randy Hultgren (R-IL), Dutch Ruppersberger (D-MD)

Purpose

Since the first municipal bond was issued in the United States by New York City in 1812 to fund the construction of a canal, municipal financing has played a critical role in our nation’s development and has set us on the forefront of commerce and investment. The funding source underpins the vast network of highways, hospitals, airports, bridges, telecommunications towers and other critical infrastructures that crisscross our nation, delivering essential services and uniting millions of Americans.

The purpose of the Municipal-Finance Caucus is three-fold:  First, to recognize the vital contribution that municipal financing has played in the evolution of the United States. Secondly, to protect a century’s old tax-exemption that has driven our economy, spurred job growth, funded critical infrastructure projects and enhanced the quality of life. And finally, using the legislative process to support an open forum where Members of Congress are able to discuss, identify and promote common sense policy solutions to strengthen municipal financing for all Americans.

Members of the Caucus believe that the key to a strong America lies in equipping and empowering local government with the tools to thrive.

Background

Congressman Randy Hultgren (IL-14) and Congressman Dutch Ruppersberger (MD-2), long time proponents of tax-exempt municipal financing, have accepted a call to action to address threats to tax exempt municipal financing. In 2015, the pair co-authored a letter, garnering support from 120 of their colleagues, urging House leadership to protect the status of tax exempt municipal bonds. Since then they have worked with state and local governments to educate other policymakers on the importance of the tax exemption.

Founded March 8 2016, the Municipal-Finance Caucus has grown to over 20 Members of the House of Representatives who continually engage the legislative process to ensure that states and local government have access to robust financing tools. The Municipal Finance Caucus allows its members and other policymakers to think strategically about empowering local government with ability to make decisions that promote infrastructure investment, job growth and economic prosperity. Denver International Airport, Chicago’s Millennium Park, The Golden Gate Bridge in San Francisco are all but a few examples of iconic structures built through the power of municipal financing.

Membership

• Randy Hultgren (R-Illinois), Co-Chair
• Dutch Ruppersberger (D-Maryland), Co-Chair
• Bruce Poliquin (R-Maine)            
• John Larson (D-Connecticut)
• Richard Neal (D-Massachusetts)
• Lynn Jenkins (R-Kansas)
• Ron Kind (D-Wisconsin)
• Steve Stivers (R-Ohio)
• Terri Sewell (D-Alabama)
• Derek Kilmer (D-Washington)
• Dan Kildee (D-Michigan)
• Luke Messer (R-Indiana)
• Tom MacArthur (R-New Jersey)
• Grace Napolitano (D-California)
• Mark Takano (D-California)
• Glenn Grothman (R-Wisconsin)
• Tim Walz (D-Minnesota)
• Ted W. Lieu (D-California)
• Gerald E. Connolly (D-Virginia)
• John Delaney (D-Maryland)
• Doris Matsui (D-California)
• Mia Love (R-Utah)
• Bob Latta (R-Ohio)

News

Bond Buyer: Hultgren Plans Bill to Clarify MA Rule’s Requirements for Issuers
By Jack Casey, June 24, 2016

The Hill: Bipartisan House Pair Launches Municipal Finance Caucus
By Naomi Jagoda, March 1, 2016

Bond Buyer: Why House Panel Leaders Should Care About Munis
By Evan Fallor – May 12, 2016

Bond Buyer: Lawmakers, Bankers Discuss How to Ease Tax Laws for P3s
By Evan Fallor – March 23, 2016

Bond Buyer: House Committee Approves Bill to Treat Munis as HQLA
By Jack Casey – November 3, 2015

Bond Buyer: Bill Introduced to Require Bank Regulators to Treat Munis as HQLA
By Kyle Glazier – May 4, 2015

Bond Buyer: Congress Members Urge House Leaders to Protect Muni Exemption
By Naomi Jagoda – April 16, 2015

Additional Resources

Letter to House Leadership from Congressmen Hultgren & Ruppersberger - June 28, 2013

Letter to House Leadership from Congressmen Hultgren & Ruppersberger - April 15, 2015

Congressman Hultgren's Testimony before House Ways & Means Tax Policy Subcommittee - May 12, 2016

Letters from Stakeholders

• Letter to Leadership of House Ways & Means Committee and Senate Finance Committee - March 2, 2016 
• Letter to Kevin Brady (R-TX), Chairman of House Ways & Means Committee - March 23, 2016 

Contact

Office of Congressman Randy Hultgren (R-IL), Co-Chair
Bill Hulse | bill.hulse@mail.house.gov | 202-225-2976

Office of Congressman Dutch E. Ruppersberger (D-MD), Co-Chair
Walt Gonzales | Walter.Gonzales@mail.house.gov | 202-225-3061