The Public Finance Network, representing nearly fifty thousand public organizations and issuers of municipal securities, recently sent a letter to leaders of the House and Senate urging them to waive the statutory Pay-as-You-Go-Act of 2010 (PAYGO) before the close of the 117th Congress. Failure to do so would result in the elimination of $14 billion in subsidy payments to public entities across the country. Subsidy payments from our federal partners are currently included in the budgets of thousands of jurisdictions. Without certainty of receipt, essential public services may become acutely impacted.

• Publication date: December 2022