Missouri GOP criticizes plan to use bonds for buildings

Tuesday, June 30, 2009 | 5:14 p.m. CDT
BY The Associated Press

JEFFERSON CITY — Top Missouri Republicans say a proposal to finance construction projects with bonds would raise the state's debt without helping the economy.

The criticism from Lt. Governor Peter Kinder and House Speaker Ron Richard is aimed at a proposal backed by Democratic Gov. Jay Nixon.

Nixon says federal incentives and low interest rates make it a good time to issue bonds.

But Kinder said Tuesday the state should use federal stimulus money for the projects. Richard said the bond proposal would leave debt for future generations.

Nixon has blocked hundreds of millions of dollars of construction spending that lawmakers had budgeted with stimulus funds. Nixon said the state might need the stimulus money for its operating budget.

 

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