Build America Bonds Extension Likely, Senator Says
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The Build America Bond program, which provides federal subsidies to state and local governments borrowing for construction projects, is likely to be extended for another year, said a spokeswoman for Senator Charles Grassley, the top Republican on the Senate Finance Committee.
A bill pending in the Senate would extend the securities, known as BABs, through 2011 while paring the subsidy to 32 percent of the interest cost from 35 percent. The bill also includes the extension of tax breaks.