Proposal To Cap State Debt Meets Skepticism

{Frankfort, Kentucky}...Tuesday, a Senate bill that would cap the amount of debt Kentucky could accumulate was met with skepticism from House Appropriations and Revenue chairman Rick Rand who said after the hearing on Senate Bill 1 that he was not sure whether the Democratic House would vote on the measure, which the Senate approved 34-2. The bill would not allow debt payments to exceed 6 percent of state revenue. Rand says the bill has an admirable goal, but reducing the state's debt will take a long-term commitment, and the Senate's proposal is a short-term political answer. The bill's sponsor, Republican Senator Joe Bowen of Owensboro, says concerns about the state's growing debt prompted him to write the bill.