NASBP Focal Point – June 23, 2025

Federal Report

Federal: Senate Majority Leader John Thune plans to begin procedural floor votes by mid-week on the reconciliation (Big, Beautiful Bill) mega bill package. The challenge is to follow the “Byrd Rule,” which restricts what provisions can be included in reconciliation that do not directly impact spending or revenues or increase the deficit beyond a specified time frame. The Senate Parliamentarian will decided what provisions can be included in reconciliation in order to avoid a filibuster. For example, over the weekend the Parliamentarian ruled against funding cuts to SNAP (Supplemental Nutritional Assistance Program), which would have shifted more costs to the states. Another policy issue before the Parliamentarian involves the state and local tax (SALT) deduction, where Senate Republicans plan to significantly limit the SALT deduction previously passed in the House. Leader Thune has indicated his willingness to delay the July 4 recess in order to pass the reconciliation package.

The 2026 NASBP and SFAA Joint Legislative Fly-in is set for Feb. 24-25. Once again, there will be no registration fee to attend, making it the perfect opportunity to join your NASBP colleagues in an effort to ensure federal policymakers understand the significant role bonds play to protect taxpayer funds and advance public works infrastructure projects. The Fly-in will kick off on Tuesday, February 24, with an afternoon “Washington Program” and a welcome reception at the host hotel, the Hilton Washington DC Capitol Hill. Wednesday, Feb. 25, will be dedicated to Capitol Hill appointments. NASBP will provide more details about registration, hotel and Capitol Hill appointments in the upcoming months.

State Activity

New: LA SCR 69 (Womack): Establishes a Task Force to make recommendations on the Louisiana Public Works Act, focusing on improving the efficiency and timeliness of public works projects and payments in the state. The Task Force consists of 15 members appointed from various governmental and industry positions, such as the President of the LA Surety Assn, the CEO of the LA AGC and ABC, and the President of the ASA who will investigate and propose legislative changes to address inefficiencies in public contract delivery and payment processes. The Task Force is scheduled to hold its first meeting by September 1, 2025, and to submit a final report with findings and recommendations by January 31, 2027. LA SCR 69 was enrolled in both chambers and will soon be delivered to the governor for signature.

Update: ME LD 1761 (Morris): Declares provisions in contracts that indemnify or hold harmless a party from claims or liabilities related to their own intentional acts or omissions to be void and unenforceable, as they contravene public policy in Maine. LD 1761 allows for exceptions which includes insurance contracts for workers’ compensation or any other insurance contracts or agreements issued by an insurer licensed to engage in the business of insurance in this State. LD 1761 was amended in Committee to include the following language as an explicit exception: “A surety bond issued by an entity authorized to engage in the business of acting as a surety in this State.” LD 1761 will be carried over to the 2026 legislative session.

If you are aware of any bills impacting the industry, please reach out to Larry LeClair, NASBP’s Director of Government Relations, and let us know.