WASHINGTON — Leaders of the House and Senate tax-writing committees yesterday planned to unveil legislation that would temporarily extend the Build America Bond program as well as several other municipal bond provisions set to expire at the end of the year.
Senate Finance Committee chairman Max Baucus, D-Mont., and House Ways and Means Committee chairman Sander Levin, D-Mich., released a summary of the American Jobs and Closing Tax Loopholes Act that would extend the BAB program to 2012 and gradually reduce its subsidy payment rate to 30% from 35%.
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