Unemployment Benefits, Build America Bonds Programs Stall in Senate

Filed under: Politics, Recession, Financial Crisis

In the process that saw the Senate Republicans block, via filibuster, an extension of unemployment benefits this week, the Senate also rejected an effort to extend the Build America Bond program. Without an extension, the program will expire on December 31.



Talk about irrationality in spades.



President Obama introduced the Build America Bond program as a way to make more capital sources available to state/local governments, after capital became constrained as a result of the financial crisis. The program provides a 35% subsidy from the U.S. Treasury to state/local governments for interest costs, Bloomberg News reported Friday, effectively increasing the pool of private capital that would consider such investments.

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Unemployment Benefits, Build America Bonds Programs Stall in Senate originally appeared on BloggingStocks on Fri, 25 Jun 2010 17:30:00 EST. Please see our terms for use of feeds.

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