State Finance Council approves governor’s borrowing plan

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Leading state lawmakers on Friday approved $900 million in short-term borrowing to provide cash flow as the state faces an approaching fiscal crisis resulting from the coronavirus pandemic and the ensuing economic shut down.

Meeting for the second consecutive day, the State Finance Council approved the borrowing after Republican lawmakers criticized the governor for saying they put the state at risk for not moving ahead with borrowing the money on Thursday.

Republicans on the State Finance Council on Thursday delayed a decision on borrowing the money, saying they had only been presented with the governor's plan for dealing . . .

SSJ

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