Audrey Dutton

Since the beginning of the year, Wall Street firms, trade associations, and municipal bond issuers have significantly stepped up their lobbying efforts to get lawmakers to extend the Build America Bonds program before it expires at the end of December.

The House on Friday voted 215 to 204 to approve legislation that would extend the Build America Bond program for two years, while gradually reducing the subsidy payments the federal government makes to BAB issuers.