FY 2014 Subsidy Reduction of 7.2 Percent for Direct Pay Bonds Will Not Change Because of Budget Proposal

December 12, 2013

Congressional budget negotiators have agreed on a budget proposal to avoid another looming government shutdown. The budget proposal would increase discretionary spending for fiscal years 2014 and 2015, but would not affect the mandatory sequester amounts for Build America Bonds (BABs) (including Recovery Zone Economic Development Bonds (RZEDBs)) and other direct pay bonds, such as Qualified Zone Academy Bonds (QZABs), Qualified School Construction Bonds (QSCBs), Qualified Energy Conservation Bonds (QECBs) and New Clean Renewable Energy Bonds (NCREBs), for fiscal years 2014 and 2015.

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