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Debt Report Says NC Government Has More Borrowing Capacity

An annual debt report says the North Carolina government’s ability to borrow money while remaining fiscally sound keeps improving despite economic challenges from the coronavirus. State Treasurer Dale Folwell's office released the Debt Affordability Study on Tuesday. A study committee calculated how much additional debt the state can incur and and keep its top scores from credit-rating agencies. The report projects the state could approve $3.2 billion in bonds this year or almost $1.5 billion annually for the next five years. Democratic Gov. Roy Cooper and legislators from both parties want to put a bond referendum on the ballot soon.