WASHINGTON — Sen. Charles Grassley is opposing the expanded bond provisions included in the jobs bill the House passed Thursday, arguing that the higher subsidy rates in the legislation will just boost profits for Wall Street underwriters.

The Iowa Republican, the ranking minority member on the Senate Finance Committee, issued a statement hours after the House passed the bill late Thursday, contending that the deeper subsidies will allow underwriters to “skim the cream” by charging higher fees to municipal bond issuers.

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