WASHINGTON — Michael Mundaca, President Obama’s nominee to become the Treasury Department’s assistant secretary of tax policy, told the Senate Finance Committee yesterday that the Build America Bonds program is “too successful to simply allow it to expire.”

Mundaca, the acting assistant secretary for tax policy who was officially tapped for the post in September, told the committee during a hearing that the BAB program has exceeded all expectations and deserves to be extended beyond its current deadline at the end of 2010.

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.