“A conservative business group this week pitched Michigan Republican legislative leaders on a debt swap idea it says could free up nearly $1 billion annually to fix the state’s crumbling roads without raising taxes. … The idea hinges on the assumption — a risky one, critics say — that the pension system would invest that $10 billion influx of cash and secure large enough returns to both pay down any remaining pension debt and cover the cost of bond interest payments.”
Read the full article on: The Detroit News
Jonathan Oosting | July 1, 2019