Voters to Decide on $76 Billion of Borrowing, Most Since 2006
Voters to Decide on $76 Billion of Borrowing, Most Since 2006
(Bloomberg) -- Voters from California to Maine will decide on $76.3 billion of bond sales on Tuesday, the most in an election since 2006, according to preliminary data from market research company Ipreo by IHS Markit.
States and cities are less hesitant to borrow amid a growing economy that’s pushed unemployment to the lowest in 48 years. That’s a shift after delaying infrastructure investment following the last recession.
The referendums would support water infrastructure projects and housing programs in California, road and bridge expansions in Colorado, school construction in San Diego, Texas, and North Carolina and affordable housing development in Oregon, according to Ipreo.
A bulk of the bond ballots are in California, with nearly $16.4 billion of state borrowing proposed to upgrade water infrastructure, support housing programs and renovate children’s hospitals, according to Ipreo. Cities and school districts in Texas will weigh in on $9.2 billion of proposed bond issues.
RELATED: Elections Busiest for Bonds Since 2006 as $76 Billion on Tap
--With assistance from Alex Tanzi.
To contact the reporters on this story: Michelle Kaske in New York at mkaske@bloomberg.net;Danielle Moran in New York at dmoran21@bloomberg.net
To contact the editors responsible for this story: James Crombie at jcrombie8@bloomberg.net, Michael B. Marois
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