Ruppersberger Announces Stivers as New Co-Chair of Bipartisan Municipal Finance Caucus
(Washington, DC) — Congressman C.A. Dutch Ruppersberger (MD-02) today announced that Congressman Steve Stivers of Ohio will serve as the Republican co-chair of the bipartisan House Municipal Finance Caucus in the next Congress. Stivers, who serves on the House Financial Services Committee, has been a licensed securities trader and bank executive and has been active on municipal policy throughout his time in office.
“Municipal bonds are the single most important tool in the country for financing new schools, hospitals, roads, fire stations and more,” Congressman Ruppersberger said. “Steve has already championed efforts to refine municipal advisor regulations and I look forward to working with him to protect common sense, job-creating tools that our communities need.”
“The Municipal Finance Caucus advocates for states and local communities across the country, ensuring they have access to critical financing to build hospitals, schools, roads, and other important projects,” Congressman Stivers said. “I am proud to join Congressman Ruppersberger to lead this Caucus, and look forward to working to advance municipal finance policy in the 116th Congress.”
Congressman Ruppersberger founded the Municipal Finance Caucus with out-going co-chair Congressman Randy Hultgren of Illinois in 2016 as a forum to discuss the opportunities and challenges for states and local governments to independently fund initiatives that strengthen their communities, and to advocate for bipartisan policies that enhance their access to capital markets. Key issues that merit strong consideration include: protecting the tax exempt status of municipal debt, understanding how financial regulations treat such debt, and ensuring there is a robust market for municipal securities.
Both Congressmen Ruppersberger and Stivers thanked Hultgren for his leadership.
“Congressman Hultgren’s experience at the federal, state and local levels proved invaluable in our efforts to shine a light on municipal issues in Congress,” they said.
The new leadership team was applauded by stakeholder groups including the State Treasurer’s Association and Municipal Bonds for America.
"The National Association of State Treasurers would like to congratulate Rep. Steve Stivers on his new position as the incoming Republican co-chair of the bipartisan Municipal Finance Caucus. As State Treasurers, we rely on strong partnerships with our colleagues on both sides of the aisle in all levels of government to secure low-cost funding for critical public infrastructure projects,” said Beth Pearce, NAST President and Vermont State Treasurer.
“The Municipal Finance Caucus has established a strong alliance unified by the common purpose of ensuring the future of municipal bonds as a vital resource to support enhancements to state and local infrastructure. NAST looks forward to continuing our work with the Caucus and co-Chairs Rep. Steve Stivers and Rep. Dutch Ruppersberger to expand the use of tax-exempt debt to meet future infrastructure financing thresholds,” added David Damschen, incoming NAST President and Utah State Treasurer.