N.C. Senate says new debt-limit study backs pay-as-you-go for schools
A new debt affordability study for North Carolina could throw cold water on plans by the House and Gov. Roy Cooper to pass a nearly $2 billion bond for public school construction.
The Senate said the study at least indirectly justified its alternative proposal to fund K-12 building with a pay-as-you-go plan which also would apply to community college, UNC System, and government agency construction projects.
“The debt advisory committee recognized the success of the Republican legislature’s fiscally responsible budget philosophy, along with the strength of our rainy day fund, describing North Carolina as a state with ‘good fiscal management and [a] high financial rating,’” said Pat Ryan, spokesman for Senate leader Phil Berger, R-Rockingham.