In just one year, federally subsidized Build America Bonds for public-works projects have become a hot item. Volume soared to $90 billion, and localities saved more than $12 billion, the Treasury Dept. said in an April 2 report. The program, created by 2009’s American Recovery and Reinvestment Act, is set to expire on Dec. 31, but the House voted to extend it and President Obama wants to make it permanent. Demand is strong. Treasury, citing data from Bloomberg, says that as of March 31, states and localities had gone to market with 1,066 Build America Bond (BAB) issues, totaling more
The 2016 Summer Olympics boating and swimming events have put an international spotlight on what has been a long-running problem in Rio de Janeiro—untreated sewage and trash are clogging up major bays and waterways.