GFOA Leads Efforts Urging for Additional Federal Funding and More Flexibility to the Municipal Liquidity Facility

On Wednesday, GFOA along with NACo, NLC, ICMA, the Conference of Mayors, State Treasurers, Auditors and Comptrollers directed a letter to Treasury Secretary, Steven Mnuchin, and Federal Reserve Chairman, Jerome Powell, and distributed to Congress advocating for additional funding for State and Local governments and recommended changes to the Municipal Liquidity Facility (MLF). Motivated by stalled stimulus discussions despite a significant need for federal support, our communication urges action by the federal government in both fiscal and monetary policy to support state and local governments for the challenges that lie ahead.