The Hill News

Congress is confronting whether to extend the Build America Bonds program. Recently some critics have called the program a state and local bailout and said it has contributed to irresponsible budgeting at the state and local level. It’s time to set the record straight. Yes, state and local governments are under fiscal pressure. No, borrowing for municipal needs isn’t the reason. And no, Build America Bonds are not a “bailout” and they didn’t cause the fiscal pressure. In fact they helped relieve it.

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