WASHINGTON — Now is the time for the federal government to invest heavily in infrastructure, including a reauthorization of the Build America Bond program, according to a report issued Friday by the Treasury Department.

The report, entitled “A New Economic Analysis of Infrastructure Investment,” touts plans within the Obama administration’s fiscal 2013 budget as an important investment in transportation infrastructure. The report argues that a large-scale investment in infrastructure has tremendous economic benefits in both the near and long term, and the availability of labor in the aftermath of the recession makes now the right time to make that investment.

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