
BIG BOND$ REDUX?
According to the Silicon Valley/San Jose Business Journal, legislative leaders have said they are in agreement on the "main points" of a $30 – $35 BILLION (yes, with a B) borrowing plan for infrastructure investment. We hope that Senate and Assembly Republicans will hold firm for pay-as-you-go and other needed reforms. Without these "must include" reforms, a massive borrowing plan would, in fact, be the financial equivalant of sailing the S.S. Titanic right into an iceberg!
Here is an excerpt from the Business Journal:
A multi-billion dollar infrastructure bond will be on the ballot this fall, the leaders of the California Legislature told a San Jose audience Tuesday.