News & Analysis as of

Federal Budget Subsidies

Orrick, Herrington & Sutcliffe LLP

Burned by BABs, Issuers Look for a Way Out

Between April 2009 and December 31, 2010, state and local governments borrowed more than $181 billion through the issuance of 2,275 separate issues of Build America Bonds, which were authorized under the federal American...more

Bracewell LLP

FY 2019 Sequestration Reduction Rate for Direct Pay Tax Credit Bonds Set at 6.2 Percent

Bracewell LLP on

According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2019 will be 6.2 percent. This percentage will apply to all subsidy payments...more

Epstein Becker & Green

26 Days: Congress and Health Care as FY 2017 Comes to a Close

Congress returns from August recess today, facing a daunting workload to complete before the end of the current fiscal year (FY) on September 30. Big picture issues include raising the national debt ceiling and passing a...more

Miller Canfield

State and local governments continue to see a reduction in credits available for Direct Pay Bonds

Miller Canfield on

As a result of federal sequestration, state and local governments who have issued certain direct pay bonds have seen a reduction in tax subsidy payments since March 1, 2013. Sequestration is a result of Congress’ failure to...more

King & Spalding

Trade & Manufacturing - March 2015

King & Spalding on

In This Issue: - Foreign Currency Manipulation Front and Center in U.S. Trade Talks - United States Challenges Chinese Export Subsidies at the WTO - Executive Branch Launches Plan to Combat Wildlife Trafficking...more

Locke Lord LLP

Locke Lord QuickStudy: February 2015 Update on Federal Budget Sequestration Affecting Build America Bonds and Other Direct Pay...

Locke Lord LLP on

As we have noted in previous client advisories, under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2024. On February 2, 2015, the Office of Management and...more

McGuireWoods LLP

Washington Healthcare Update

McGuireWoods LLP on

This Week: President’s FY2016 Budget Request... FDA Commissioner Hamburg to step down... Tennessee Medicaid expansion plan rejected by legislature. 1. Congress House House Ways and Means Committee Hosts Hearing...more

Saul Ewing Arnstein & Lehr LLP

Automatic Reductions in Subsidy Payments for Certain Direct Pay Bonds will Continue for Fiscal Year 2014

Pursuant to the requirements of the Budget Control Act of 2011 and the American Taxpayer Relief Act of 2012, on March 1, 2013, President Obama signed an Executive Order reducing the budgetary authority in accounts subject to...more

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