Tuesday, November 23, 2010

Another Year of BABs?

Federal subsidies for state and municipal bonds are made possible by a program called Build American Bonds, which is schedule to end at the end of this year. Faced with the imminent implosion of the municipal bond market, Senate Republicans are signaling that they will vote to extend the BAB program for another year. But House Republicans aren't yet sending the same signal. Bond vigilantes take note.