The looming sequestration cuts, including those on Build America Bond payments, will likely be higher than estimated, some municipal bond market participants are warning.

Following the Jan. 2 enactment of the American Taxpayer Relief Act of 2012 (ATRA), also known as the “fiscal cliff” agreement, tax experts revised their estimates on how sequestration — the automatic, across-the-board budget cuts — would impact federal programs.

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