Robert Menendez actually said...

"The fact of the matter is if investors leave these funds and there is less demand for municipal securities, the borrowing costs for State and local governments will go up."

"With this significant jump in tax-exempt yields, how is this going to impact the ability of State and local governments to finance infrastructure and economic development projects?"

"I am pleased to have joined Senator Toomey in cosponsoring the Consumer Financial Choice and Capital Markets Protection Act in an effort to preserve money market funds."

"I have heard from elected officials across my State of New Jersey... that access to the capital markets that they depend on... appears to be at risk due to unintended consequences of the SEC rule."