Curated News
By: NewsRamp Editorial Staff
March 03, 2025

Surety Industry Unites on Capitol Hill to Advocate for Key Legislative Priorities

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Source News Release

TLDR

  • Surety & Fidelity Assoc. of America advocates for legislation strengthening construction surety bonds, presenting significant taxpayer savings and economic growth opportunities.
  • Legislative Fly-In educates Congress on Water Infrastructure Subcontractor and Taxpayer Protection Act, emphasizing bonding for all projects and bipartisan support.
  • Surety bonds protect taxpayer dollars and support public infrastructure projects, ensuring project completion, safeguarding workers and promoting economic growth.
  • Former Congressman Ray LaHood shares insights on federal infrastructure projects during special event hosted by NASBP and SFAA, advancing key priorities and dialogue with policymakers.

Impact - Why it Matters

This news matters as it highlights the crucial role of surety bonds in protecting taxpayer investments and ensuring project completion. The advocacy efforts aimed at strengthening legislative support for bonding requirements in infrastructure projects have implications for the construction industry, taxpayers, subcontractors, and overall economic growth.

Summary

The Surety & Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP) organized a Legislative Fly-In to educate Congress on the value of construction surety bonds and advocate for key legislative priorities. Meetings focused on the bipartisan Water Infrastructure Subcontractor and Taxpayer Protection Act, aiming to strengthen the WIFIA program by requiring appropriate bonding for all projects. Industry leaders emphasized the significant savings and benefits surety bonds provide to taxpayers and the economy.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Surety Industry Unites on Capitol Hill to Advocate for Key Legislative Priorities

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