5. Tax Incentives for Infrastructure Investment
Revise Tax Law to Allow Advance Refunding of Tax-Exempt Bonds ($30 Billion)
- Restore advance refunding of tax-exempt municipal bonds: Restore advanced refunding authority to allow cities (and other local and state governments) to save significant amounts on their borrowing costs, which means public borrowers can reinvest these savings in infrastructure projects.
- Provide local and state governments the ability, through advance refunding of municipal bonds, to use these savings for reinvestment in airports, schools, hospitals and other infrastructure projects. (In 2016 alone, the advance refunding of more than $120 billion of municipal securities saved taxpayers at least $3 billion.)
Extend Renewable Energy Tax Credits, Provide Tax Credit for Energy Storage ($187 Billion)
- Extend the renewable electricity production tax credit, including solar, wind and other renewable energy technologies, and extend the business energy tax credit ($137 billion).
- Establish a tax credit for energy storage systems to enhance energy reliability and renewable energy development ($50 billion).