$100 million in school construction bonds subject of budget wrangling

This from Bluegrass Politics:

Senate President David Williams and House Democratic leaders wrangled over how much debt there should be in the state budget Wednesday in a third day of negotiations over the two-year, $19 billion spending plan...

In little more than an hour of negotiations Wednesday morning, lawmakers argued over whether to include in the budget a $100 million bond for school construction and a $20 million bond for high-tech economic development construction projects.

Williams, R-Burkesville, opposed the additional debt.

House Majority Caucus Chairman Bob Damron, D-Nicholasville, said the money is needed.

“If we don’t deal with this issue in the next two years, we are going to be in a worse situation than we are,” he said.

House Speaker Greg Stumbo, D-Prestonsburg, and House Majority Leader Rocky Adkins, D-Sandy Hook, said now is a good time for the state to issue bonds because interest rates are at historical lows.

Williams countered that interest rates might rise again before the bonds are issued.

“What is the bond rating going to be two years from now? How much is it going to cost to meet this obligation? That’s the reason we can wait a year on this,” Williams said...