Treasury Secretary Yellen says bonds and tax credits will be included
According to House Ways and Means Committee chairman Richard Neal of Massachusetts, federally subsidized Build America Bonds will return as part of the $2 trillion-plus infrastructure plan.
Congressman Neal, a key player in shaping legislation for the plan, said he obtained assurances from Treasury Secretary Janet Yellen that the bonds, along with certain tax credit measures, will be included.
Representative Neal said his committee will hold hearings ahead of Speaker Nancy Pelosi’s target for having the chamber vote on legislation by July 4.
A Build America Bond program was created under President Obama’s administration as part of an economic stimulus bill allowing states, cities, schools, airports, mass transit agencies, and others to sell for a limited time taxable debt with the federal government contributing 3 percent of interest costs. The program was popular, Neal said.
As the Lord Leads, Pray with Us…
- For Congressional members as they begin debate and hearings on the $2.3 trillion infrastructure package.
- For the president’s administration to have discernment as Build America Bonds are considered to finance infrastructure projects.
Sources: Reuters, WWLP.com
