WASHINGTON — The House Ways and Means select revenue measures subcommittee has scheduled a hearing for May 21 to discuss the new Build America Bonds program and how it may impact the supply and demand of tax-exempt bonds.

Subcommittee chairman Rep. Richard Neal, D-Mass., announced the hearing yesterday and said that while the focus will be on how BABs will affect traditional tax-exempt bonds, other recent legislative changes to state and local financing may also be discussed.

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