October 14, 2022 (WASHINGTON, DC) – The Surety & Fidelity Association of America (SFAA), a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry, won the prestigious ASAE Silver Power of Associations Award for their TIFIA-Bonding Advocacy Campaign. SFAA’s legislative amendment was passed by a unanimous vote of 97-0 and was included as part of the historic, bipartisan Infrastructure Investment and Jobs Act.
SFAA’s team, in partnership with 14 associations, achieved this landmark victory in their multi-layer advocacy efforts to pass a federal law requiring surety bond performance and payment protections on all federally-financed public-private infrastructure projects (P3s) receiving loans and grants under the Transportation Infrastructure Finance and Innovation Act (TIFIA). The coalition partner organizations are:
- American Property Casualty Insurance Association (APCIA)
- American Subcontractors Association (ASA)
- Business Coalition for Fair Competition (BCFC)
- Council of Insurance Agents and Brokers (CIAB)
- Finishing Contractors Association (FCA) International
- Mechanical Contractors Association of America (MCAA)
- National Association of Electrical Contractors (NECA)
- National Association of Minority Contractors (NAMC)
- National Association of Mutual Insurance Companies (NAMIC)
- National Association of Surety Bond Producers (NASBP)
- Sheet Metal & Air Conditioning Contractors’ National Association (SMACNA)
- The Association of Union Constructors (TAUC)
- The Construction Employers of America (CEA)
- The Surety & Fidelity Association of America (SFAA)
- Women Construction Owners and Executives (WCO)
“Being recognized by ASAE as executing one of the best advocacy programs of the year is a great honor. We could not have achieved this without the involvement of our SFAA members, House and Senate sponsors, NASBP, APCIA, and other coalition partners. Our TIFIA-bonding advocacy campaign was executed exceptionally well and culminated in our legislation being included as part of the historic, bipartisan Infrastructure Investment and Jobs Act,” said Lee Covington, SFAA president & CEO. To view remarks in support of the bill on the Senate floor, click here.
House sponsors included:
- Stephen Lynch (D-MA)
- Troy Balderson (R-OH)
- Chris Pappas (D-NH)
- Daniel Webster (R-FL)
- Jake Auchincloss (D-MA)
- Warren Davidson (R-OH)
- Donald M. Payne Jr. (D-NJ)
- Mike Bost (R-IL)
- Steve Cohen (D-TN)
- Anthony G. Brown (D-MD)
- Julia Brownley (D-CA)
- David P. Joyce (R-OH)
Senate sponsors included:
- Chris Van Hollen (D-MD)
- Mike Rounds (R-SD)
- Mark Kelly (D-AZ)
- Joni Ernst (R-IA)
- Tim Scott (R-SC)
The Power of Associations Awards is ASAE’s highest honor for associations, showcasing the unique and indispensable role they play in America and around the world in bettering communities, fostering volunteer efforts, and harnessing their members’ collective will and expertise to ensure a better quality of life.
The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org.
About ASAE – ASAE is a membership organization of more than 46,000 association executives and industry partners. Since it was established 100 years ago, its members have and continue to lead, manage, and work in or partner with organizations in more than a dozen association management disciplines, from executive management to finance to technology. For more information, visit https://www.asaecenter.org.