TITLE

Massachusetts House Kills Borrowing Plan

AUTHOR(S)
Piazza, Johanna
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/2/2003, Vol. 344 Issue 31627, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Massachusetts House of Representatives has voted against a proposal that called for the state to borrow 300 million dollars to cover operating costs in the 22.5 billion dollar 2003 budget, which has an estimated deficit gap of 3 billion dollars. On April 29, a day before debate began in the House regarding the proposal, the Massachusetts Taxpayers Foundation, an advocate of deficit borrowing, issued a cautionary bulletin warning lawmakers against floating debt without a comprehensive multiyear strategy. Several proposed government-reform plans might take a long time since Governor Mitt Romney put off filing legislation for his government restructuring plan, which was scheduled to be released on May 1, after receiving notice from both Thomas Finneran, speaker of the House and Senator Diane Wilkerson that the single piece of legislation would be quickly defeated.
ACCESSION #
9740708

 

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