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    Entries in Arkansas (2)

    Wednesday
    Nov092016

    Arkansas, California Voters Approve Spending on Mega Projects

    In an anti-debt climate, voters in the two states cleared the way for spending on major economic development projects.
    BY  NOVEMBER 9, 2016

    In the post-recession era, "debt" is a four-letter word. State debt levels as a whole have been stagnant in recent years and, in 2014, actually recorded the first decline in the 28 years Moody's Investors Service has been tracking them.

    It's in this climate that voters in Arkansas and California have cleared the way for more spending on mega projects that could be economic development boons in those states.

    In Arkansas, voters overwhelmingly passed a ballot initiative that eliminates the state's current 5 percent cap on debt related to economic development projects. Proponents of Arkansas’ Issue 3, who included Gov. Asa Hutchinson, want the cap lifted so the state can be more competitive in attracting new corporations by helping fund mega projects. Voters easily approved the measure, 65-35.

    In California, which has one of the highest taxpayer debt burdens in the country, the results were much closer. Voters narrowly rejected a proposal, 51-49, that could have derailed two of Gov. Jerry Brown's legacy projects. Prop. 53 would have limited the state's ability to issue debt for major projects by requiring voter approval to issue more than $2 billion in revenue bonds.

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    Monday
    Oct312016

    To Limit Debt or Make It Limitless? 2 States’ Voters Will Decide.

    In an anti-debt climate, one state aims to rein it in while another tries to uncap it.
    BY  OCTOBER 27, 2016

    In the post-recession era, "debt" is a four-letter word. State debt levels as a whole have been stagnant in recent years and, in 2014, actually recorded the first decline in the 28 years Moody's Investors Service has been tracking them.

    It’s in this climate that voters in two states are considering nearly opposite proposals on debt.

    California, which has one of the highest taxpayer debt burdens in the country, will decide whether to limit lawmakers’ ability to issue debt for major projects. Prop. 53 would require voter approval to issue more than $2 billion in revenue bonds.

    In Arkansas, a ballot initiative proposes making it easier for the state to incur more debt. Issue 3 would eliminate the state's current 5 percent cap on debt related to economic development projects.

    Each state's history with bond debt has a lot to do with these conflicting proposals

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