Fixing America’s Infrastructure

Washington taxpayers would have paid over half-a-billion dollars more for the Evergreen Point Floating Bridge in Seattle if tax-free municipal bonds had not been used to fund its replacement. Fortunately, the state was able to issue the bonds tax free, which saved Washington residents hundreds of millions of dollars. For more than 100 years, state and local governments have used this funding mechanism as a low-cost, viable way to finance bridges, such as the Floating Bridge, as well as roads, schools, hospitals and other services that improve the quality of life for all Americans. In fact, state and local governments invested more than $400 billion in public infrastructure using tax exempt municipal bonds last year alone. This is in part because tax exempt municipal bonds have lower interest costs than taxable bonds and thus offer communities an affordable way to invest in infrastructure.

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