WASHINGTON — House Transportation Committee chairman Rep. John Mica said Wednesday that he will introduce a multiyear surface transportation bill later this year that includes Build America Bonds.

While the Treasury Department paid BAB issuers 35% of interest costs under a program that expired on Dec. 31, the Florida Republican told those attending the U.S. Conference of Mayors’ winter meeting here that the 35% rate was “too generous” and that he would propose a lower subsidy rate. He did not cite a specific rate.

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