NABL to carry first ‘member-wide’ Capitol Hill advocacy fly-in

The Nationwide Affiliation of Bond Attorneys is about to carry its first-ever “member-wide” Capitol Hill advocacy fly-in forward of its annual convention subsequent week. 

The fly-in presents a chance for NABL members to satisfy with members of Congress in addition to their employees to advocate for tax-exempt municipal bonds. It’s slated to happen Sept. 9 and on the morning of Sept. 10. 

“We made the choice just a few years again to carry our annual convention for 2025 in Washington, D.C., so it appeared like a logical time to pilot our first member-wide advocacy fly-in,” NABL President Jason Akers, a managing companion at Foley & Judell in New Orleans, mentioned, noting that “NABL routinely does smaller advocacy fly-ins with teams like our board of administrators.” 

Roughly 40 NABL members are planning to take part within the fly-in, “however I would not be stunned if the quantity picks up a bit with companions becoming a member of onto their colleagues’ conferences,” mentioned Brian Egan, NABL’s chief coverage officer. 

“Our members are making outreach to greater than 70 places of work throughout Capitol Hill,” Egan mentioned. 

Whereas the tax exemption for municipal bonds was preserved below the One Huge Stunning Invoice Act that President Donald Trump signed into legislation in July, Egan emphasised the necessity for continued vigilance. Tax exempt bonds had been protected on account of “the market’s immense advocacy efforts this yr,” he mentioned. 

“Members from each nook of the municipal market spent months ensuring practically each workplace in Congress understood that municipal bonds construct the communities of their districts and finally save the American taxpayer within the type of decrease state and native borrowing prices,” Egan mentioned. “To look again on the successes of this yr’s advocacy endeavors and say ‘nicely I assume we will relaxation on our laurels now’ can be a grave mistake, particularly when congressional management is already discussing a second potential reconciliation package deal.”

The important thing lesson is “advocacy works— stick with it,” Egan mentioned. 

The stakes could have been raised final month when a conservative suppose tank, the Financial Coverage Innovation Heart, issued a memo particularly focusing on the muni tax exemption for elimination. Whereas the group is a relative newcomer among the many Washington suppose tanks, having solely been established in 2023, its memo served as a reminder to advocates that the issuer of the exemption is not closed.

“Different lobbies are already on the Hill making the case for why their costly precedence is extra vital than neighborhood finance,” he mentioned. “As quickly as you step again from the desk, chances are you’ll wind up on it.” 

The fly-in will precede NABL’s annual convention and enterprise assembly, which will likely be held from Sept. 10 to Sept. 12.

Integrated as an Illinois non-profit company in 1979, NABL “exists to advertise the significance and integrity of the municipal market by advancing the understanding of and compliance with the legislation affecting public finance,” in line with its web site. 

The group was not traditionally targeted as closely on Washington advocacy, however made a concerted effort to extend its presence following the passage of the Tax Cuts and Jobs Act in 2017.