DORAL, Fla. — An Obama administration official last week said the underwriting fees for Build America Bonds are coming down, and the expectation is that if the subsidized taxable borrowing program was made permanent, they would come down further.

Alan B. Krueger, assistant secretary for economic policy at the Treasury, told the audience at the National Municipal Bond Summit here that “new products typically require upfront investments and involve greater uncertainty, so they are likely to have higher underwriting spreads as a result.”

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