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Guess who is keeping a very sharp eye on ARRA funding?
The IRS, that’s who
According to a story in a recent issue of The Bond Buyer newspaper the tax collection agency’s tax-exempt bond branch has been charged with keeping a close watch on ARRA-authorized bond programs to be sure they are not used beyond their legal limits. With more than $45 billion of these new bonds out there the IRS is a little concerned about the possible loss of future tax revenue if that should happen.