WASHINGTON — The Obama administration would like to make the Build America Bonds program permanent at a lower, so-called revenue-neutral subsidy rate, but the remainder of the proposed fiscal 2011 budget does not include any proposals to extend other stimulus programs due to expire at the end of the year.
Though the administration said it wants BABs to be a permanent fixture of the muni market, it was silent on the future of other programs stemming from the American Recovery and Reinvestment Act, such as relaxed rules encouraging banks to invest in tax-exempt debt.
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