In 2009, Senator Wyden helped revolutionize the private bond market used to finance public infrastructure projects when a version of his Build America Bonds became law as part of the American Recovery and Reinvestment Act (ARRA).  The taxable municipal bonds were a significant departure from traditional tax exempt bonds and their wild success -- $181 billion were issued in 2010 -- demonstrated how tax credit bonds could be used to leverage private sector investment at considerable savings for state and local governments.  ARRA only authorized Build Americans Bonds for one year, but Wyden has since built on the program’s success, introducing the bipartisan “Transportation and Regional Infrastructure Project” (TRIPS) bonds which would make it possible for state infrastructure banks to issue up to $50 billion in tax credit bonds to finance transportation projects.