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DEL.ICIO.USFitch says it doesn’t like TABOR-like legislation
The Atlanta Journal-Constitution
Dick Pettys and InsiderAdvantage report that a Senate measure passed last month, calling for a constitutionally mandated spending cap, has raised the eyebrows of one of the financial rating agencies that helps determine the interest rate on state-issued bonds.
Pettys says Fitch Financial recently hosted a conference call with state money managers. One participant said the firm warned that the Taxpayer Protection Act wouldn’t immediately threaten the state’s AAA bond rating, but that it might in the future.
It’s not likely that House GOP leaders will move the measure toward the necessary two-thirds vote on the floor. Speaker Glenn Richardson jealously guards his chamber’s current constitutional advantage when it comes to budget matters.
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