WASHINGTON — A Republican proposal that would have allowed the Build America Bond program to expire at the end of the year was defeated Thursday, as Senate lawmakers continued working toward passing legislation to extend several expiring tax breaks, including for BABs.

The GOP measure, which did not include extensions of two recovery zone bond programs or BABs, had been offered by Sen. John Thune, R-S.D., to eliminate the tax increases and wasteful spending that he claimed was in broader legislation passed by the House and supported by many Senate Democrats.

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.