WASHINGTON — The Internal Revenue Service made about $2.9 billion of subsidy payments to issuers of Build America Bonds and other direct-pay bonds through February, Cliff Gannett, director of the IRS’ tax-exempt bond office, said Monday.

Gannett talked about BABs and other issues in an interview after returning from Austin, where he spoke at the National Association of Bond Lawyers Tax and Securities Law Institute meeting on Thursday.

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