The U.S. Department of the Treasury has released a new report showing that the Build America Bonds program has resulted in significant savings in borrowing costs for state and local governments. The report finds that Build America Bond issuers will save more than $12 billion in borrowing costs on bonds issued during the first year of the program as compared to issuing tax exempt debt. In addition, the Treasury Department today released its monthly comprehensive update on Build America Bonds issuances, showing more than $90 billion have been issued through March 31, 2010. Build America Bonds are being used increasingly in conjunction with 4 percent LIHTCs. Congress is currently considering legislation (HR 4849) that would extend this program through April of 2013.