A new bill introduced by Democrats in the House would revive Build America Bonds and seven other federal financing programs for hospitals and other entities owned by states and localities, according to a release by House Ways and Means Committee Democrats.
However, House Republicans have indicated they would block extending the programs, which were created by the American Recovery and Reinvestment Act and expired at the end of last year. Ways and Means Chairman Dave Camp (R-Mich.) called Build America Bonds “a highly subsidized spending program,” according to a February report by the Wall Street Journal.
The Build America bonds program provided a 35 percent subsidy of interest costs, helping to finance $181 billion in infrastructure projects over two years.
The seven other programs the bill would revive are Recovery Zone Bonds, Water & Sewer Bonds, AMT/Private Activity Bonds, New Markets Tax Credit, Federal Home Loan Bank Bond Guarantees, Small Issuer Exception for Bank-Qualified Bonds, and Low-Income Housing Tax Credit Exchange Program.
Supporters of the bill include the AHA and National Association of Health and Educational Facilities Finance Authorities.
Read the release from the Ways and Means Democrats on bonds.
Read the text of the Democrats’ bill.
Read the Wall Street Journal article on Build America Bonds.
Read more coverage of Build America Bonds:
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