Dealers step up lobbying efforts amid tax discussion

Dealers are stepping up lobbying efforts and bringing the Municipal Bonds for America Coalition, a group headed by Bond Dealers of America, back into view as the tax debate begins again.

The coalition, comprising investors, underwriters, municipal advisors, insurers and bond counsel has pounced on the idea of tax reform after President Biden made tax a in 2021 to represent buy and sell side stakeholders but had previously been issuer focused.

MBFA is made up of a steering committee and an advisory council with many familiar faces represented. Among its 2023 advisory council are Chris Hamel, former head of municipal finance at RBC Capital Markets, Lynnette Kelly, former chief executive officer of the MSRB, Sheila Amoroso, former head of municipal at Franklin Templeton, Frank Chin, former head of public finance at Citi and Ron Fielding, former head of municipals at OppenheimerFunds, among others.

BDA represents mostly mid-sized firms, but welcomes firms of all sizes to join the initiative, whether on the buy or sell side. Bolton added that the group is also planning to retain outside lobbying resources to bolster and focus the effort.

So far on the agenda for MBFA are fly-ins to Washington D.C. scheduled for June, in addition to another one before the November election.