Bonds and Financing

Stivers to serve as House Municipal Finance Caucus co-chair

Rep. Steve Stivers, R-Ohio, will co-chair the House Municipal Finance Caucus, according to a statement released on Dec. 10 by current caucus co-chairman Dutch Ruppersberger, D-Md.

Stivers replaces Rep. Randy Hultgren, R-Ill., who failed to win re-election this fall.

More than 10 national associations representing the full spectrum of municipal finance stakeholders, including the American Public Power Association, issued a statement congratulating Stivers on his new position as co-chair.

“Congressman Stivers is particularly suited to join in leading the caucus, with years of experience in finance through his work in the private sector, the Ohio State Senate, and the U.S. House,” the statement said.

Formed in 2016 by Ruppersberger and Hultgren, the caucus has grown to more than 40 members of the House of Representatives, including Stivers.

“Thanks to the leadership of Congressmen Hultgren and Ruppersberger, the caucus has continually engaged the legislative process to ensure that states and local government have access to robust financing tools,” the associations said in their statement. “The caucus and its leaders fought to preserve tax-exempt financing during debate of the Tax Cuts and Jobs Act and are expected to play a key role as Congress turns to legislation to help in the funding and financing of our nation’s core infrastructure.”

“Municipal bonds are the single most important tool in the country for financing new schools, hospitals, roads, fire stations and more,” Ruppersberger said. Stivers “has already championed efforts to refine municipal advisor regulations and I look forward to working with him to protect common sense, job-creating tools that our communities need.”

The Association also joined a letter of support for Stivers released by the Public Finance Network, a coalition of bond issuer and issuer-aligned associations, including the U.S. Conference of Mayors, National Association of Counties, National League of Cities, and Government Finance Officers Association.

State and local governments use municipal bonds to finance public infrastructure investments that enable their communities to function and thrive. Tax-exempt municipal bonds have financed $2 trillion in new investments in infrastructure over the last decade, including $96 billion in new investments in electric power generation, transmission, and distribution.