Magaziner: R.I. needs to make investment to stabilize economy; can safely borrow $587M through bonding

R.I. GENERAL TREASURER Seth Magaziner on Tuesday said the state could safely borrow up to $587 million through new bonds. He proposed spending parameters as follows. / COURTESY R.I. OFFICE OF THE GENERAL TREASURER
PROVIDENCE – Rhode Island has the debt capacity to borrow another $200 million this year, on top of the $387 million in bonds proposed in the original fiscal 2021 budget submitted by Gov. Gina M. Raimondo, according to General Treasurer Seth Magaziner. Magaziner joined several economic and public officials Tuesday in calling for a large-scale…

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