Speaker Proposes About $35 Billion In Infrastructure Bonds
Sacramento, CA — Assembly Speaker Fabian Nunez says Governor Schwarzenegger´s plan to borrow $68 billion to help pay for his public works plan isn´t fiscally prudent.
Nunez is proposing that the state borrow about half as much and use the money for schools, highways, transits, flood control, parks, wildlife habitat, housing projects and hospital earthquake upgrades.
The Democrat says the plan proposed by Schwarzenegger last month in his State of the State speech would commit too much of the state´s annual revenue to debt payments, endangering funding for education and other programs.
Schwarzenegger´s legislative affairs secretary, Richard Costigan, says the governor´s plan is comprehensive and fiscally responsible.