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‘Build America Bonds’ Revival Draws Bipartisan Support in Congress

  • Obama-era subsidized debt raised more than $180 billion
  • ‘An outbreak of major bipartisanship around’ subsidizing bonds
Ron Wyden
Ron WydenPhotographer: Joshua Roberts/Bloomberg

Democrats and Republicans in Congress are in favor of reviving an Obama-era bond program for states and cities to help spur increased spending on infrastructure projects.

Senator Ron Wyden, a Democrat from Oregon who chairs the Senate Finance committee, said at a hearing of the panel Tuesday that there is bipartisan support for creating a new borrowing program akin to Build America Bonds as President Joe Biden seeks to enact a major infrastructure spending plan. The federal government paid some of the interest bill for such securities under a temporary program enacted after the last recession.