NMCO - Infrastructure Legislation And Its Impact On The Municipal Market

• While political forces could alter their course, we believe that passage of these infrastructure bills would have a positive impact on the municipal market.
• If enacted into law, taxes for high income earners are likely to increase, which could fuel additional demand for tax-free municipal bonds, particularly in high tax states.
• In short, we believe infrastructure legislation would provide investors with new and expanded investment opportunities and issuers with additional opportunities to issue debt in a cost-effective manner.

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