Panel says Vermont can borrow more for capital projects

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A financial advisory committee says the state of Vermont can afford to borrow $10 million more for capital projects than originally recommended.

The Capital Debt Affordability Advisory Committee approved a report that raises the recommended borrowing level this year to over $60 million. The additional money could support more transportation projects.

The panel says the state could borrow the additional money without hurting its bond rating.

State Treasurer Jeb Spaulding says it’s unclear how the nation’s current budget crunch would affect any borrowing. He says if the state tried to sell bonds today, it’s unlikely anyone would buy them.

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