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 “sequester.” Sequester is…
By: Saul Ewing LLP