Municipal market participants are encouraged but cautious about President Obama’s proposal for a new type of taxable, direct-pay bond called America Fast Forward bonds to finance the nation’s infrastructure.

AFF bonds, modeled after the Build America Bond program, would include private-activity bonds and relax certain limitations on how the bonds could be used, according to a White House release issued Wednesday.

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.