Build America Bonds

Mark D. Robbins and Bill Simonsen

Municipal Finance Journal, 2010, vol. 30, issue 4, 53 - 77

Abstract: The Build America Bond ( BAB) program was enacted as part of the American Recovery and Reinvestment Act (ARRA). BABs are taxable bonds that carry a 35% interest cost reimbursement by the federal government. BAB issuance quickly became an important part of the municipal market in 2009, with over $64 billion sold from April through December. This article describes how BABs fit into the overall municipal market, examines the first calendar year of issuance, and discusses some future implications of the program.

Date: 2010
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