WASHINGTON -- Rep. Frank Guarini has asked the General Accounting Office to study whether the private-activity bond volume cap is hurting the ability of state and local governments to finance environmental infrastructure projects.

"In light of the ever-increasing level of federal environmental mandates, I deem it essential that we assess the practical and financial effect of the volume cap on reaching ... environmental goals," the New Jersey Democrat said in a letter Thursday to the agency, the research arm of Congress.

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