NACUBO On Your Side: August 10–16, 2022
8/16/2022
As things move quickly in Washington, DC, NACUBO is your constant advocate in action. NACUBO On Your Side covers important legislative and agency activity NACUBO staff are tracking, what we’re currently advocating for, and how you can take action with us.
Here are the issues we are tracking and advocating for this week.
On the Hill
IRA Passes House, Awaits President’s Signature
On Friday, the House of Representatives approved the Inflation Reduction Act, and President Joe Biden is expected to sign it into law Tuesday. The sweeping legislative package, while pared down significantly from its introduction last year as the Build Back Better Act, is central to Biden’s economic and social agenda.
Agency Action
MSRB Releases Summary of Responses on ESG
The Municipal Securities Rulemaking Board (MSRB) has released a summary of 52 responses that it received following a December 2021 Request For Information (RFI). The RFI solicited public input to better understand how environmental, social, and governance (ESG) practices are being integrated into the municipal securities market. NACUBO’s response to the RFI, which requested that the group remain mission-focused and avoid prematurely establishing standardized disclosures for ESG practices, appear to be in line with other responses the MSRB received.
Accounting
GASB Conducts Research on Capital Assets
The Governmental Accounting Standards Board (GASB) would like those who prepare financial statements to participate in an online survey about capital assets. The survey is part of a research effort to evaluate financial reporting of capital assets, so it is important for public institutions to participate. The survey should take about 10 minutes to complete. More information about GASB’s capital asset project can be found on its website. The deadline for survey completion is September 9, 2022, and the staff contact for questions is Scott Reeser.
Take Action
Register Now for NACUBO’s September Washington Update
NACUBO’s next quarterly Washington Update (formerly known as a Legislative Lunchcast) will take place on Tuesday, September 16 from 2–2:30 pm ET. The webcast is free for members, and you can send questions in advance to advocacy@nacubo.org.
