State Treasurer Todd Russ Advocates for Oklahomans in Washington, D.C.
Last week, Oklahoma State Treasurer Todd Russ traveled to Washington, D.C., to advocate for policies that protect taxpayers and strengthen financial opportunities for Oklahomans.
During the visit, Treasurer Russ joined fellow state leaders in urging Congress to preserve the tax-exempt status of municipal bonds. These bonds finance nearly 75% of U.S. infrastructure and support critical projects such as schools, roads, and water systems. Over the last 10 years Oklahoma taxpayers have saved nearly $602 million on projects financed with tax-exempt bonds. Preserving the tax-exempt status of municipal bonds is estimated to save state and local governments an estimated $824 billion over the next 10 years.1 This exemption keeps borrowing costs low, supports critical infrastructure projects, and helps prevent unnecessary tax increases for communities.
“While I’m not advocating for more public debt, however if bonding is necessary, discounting the costs to the taxpayers is extremely important as we develop infrastructure. Oklahoma depends on tax-exempt municipal bonds to fund critical infrastructure projects across our state—roads, schools, hospitals, and water systems,” said Treasurer Russ. “Without this exemption, borrowing costs would rise, putting greater financial strain on local cities and counties who would pass it onto taxpayers. Preserving this status is essential to keeping our communities strong and ensuring we can continue building for the future without unnecessary financial burdens.”
Treasurer Russ also called on the federal government to return over $38 billion in unclaimed U.S. savings bonds to state Unclaimed Property divisions. These funds belong to Americans who have lost track of their investments, and state programs have a proven track record of reuniting residents with their rightful property.
The trip also included a strategic meeting with the National Association of State Treasurers (NAST), where Treasurer Russ collaborated with colleagues to advance financial policies benefiting all states. Key discussions covered infrastructure financing, responsible investment practices, and strengthening unclaimed property programs.
“Our job is to protect taxpayers and advocate for responsible fiscal policy,” said Treasurer Russ. “By working with leaders in Washington, we ensure Oklahoma remains financially strong while fighting for policies that benefit our citizens.”
Continuing collaboration with the White House and federal leaders remains a priority as the office works to protect Oklahoma taxpayers and strengthen our state's financial future.
