WASHINGTON - Many of the two-year municipal bond initiatives in the new stimulus law, including the Build America Bonds direct payment option, should be expanded and extended or made permanent, municipal market participants told members of a House Ways and Means Committee panel this morning.

“I am hopeful that Congress will look at all of the bond provisions included in the [American Recovery and Reinvestment Act of 2009] and make them permanent so that state and local governments can continue to benefit from these [them] after they are scheduled to expire next year,” Patrick McCoy, finance director for the New York State Metropolitan Transportation Authority, told members of the select revenue measures panel at a hearing on the tax-exempt and taxable bond market.

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