BABs Would Return Under Obama Plan

The Bond Buyer reports:

The $3.7 trillion fiscal 2012 budget proposed by President Obama Monday would permanently reinstate an expanded Build America Bond program but at a lower 28% subsidy rate.

It also would simplify arbitrage restrictions, expand the smaller-issuer arbitrage rebate exemption, and provide $30 million over six years for a national infrastructure bank.

The budget also calls for $8 billion for high speed rail and proposes a six-year $556 billion surface transportation reauthorization bill.

They're back.