WASHINGTON — The current Build America Bond program is costing the federal government roughly three-quarters of a billion dollars a year, according to the Obama administration’s recently released budget documents.

The president’s fiscal 2011 budget documents show that while the federal government actually made money on tax revenue obtained from the taxable bonds in fiscal year 2009, it expects the program ultimately would cost a total of $5.6 billion through fiscal 2015, assuming it expired at the end of 2010.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.