Issue Briefs
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Financial Data Transparency Act (FDTA)
Legislation passed at the end of 2022 to apply data standards to information submitted to and managed by several financial regulators, including the MSRB.
![100 US Dollar Bills. Source: Jericho via Wikimedia Commons.](https://www.nabl.org/wp-content/uploads/2023/09/Money-Image-1024x681.jpg)
Federal Appropriations Process
A quick primer to help bond lawyers better understand the federal appropriations process and its connection to municipal bond offerings.
![Market graphic imposed on US Treasury Building in Washington, D.C.](https://www.nabl.org/wp-content/uploads/2023/05/Debt-Ceiling-Graphic-1024x576.png)
Understanding the Debt Ceiling
What are the debt ceiling and federal downgrades, and what do they mean for municipal bonds.
![Town of Galena, Illinois Source: Jasperdo via Flickr](https://www.nabl.org/wp-content/uploads/2022/12/Galena-IL-1024x768.jpg)
Updating the Small Borrower Exemption
Modernize Financing Options Available to Our Smallest Communities
![Biden at signing of Inflation Reduction Act (IRA). Source: CSPAN](https://www.nabl.org/wp-content/uploads/2023/01/Biden-Inflation-Reduction-Act-CSPAN.png)
Inflation Reduction Act
Large domestic policy package offering more than $400 billion in new federal investment and $300 billion in deficit reduction.
![Construction of the new east span of the Bay Bridge connecting Oakland and San Francisco, CA.](https://www.nabl.org/wp-content/uploads/2022/01/Bay-Bridge-Construction-Oakland-CA-1024x679.jpg)
Infrastructure Investment and Jobs Act (IIJA)
Bipartisan infrastructure bill passed in late 2021 that enacted two new types of exempt facility bonds.