North Carolina’s Debt Affordability Advisory Committee approved a draft Wednesday of its 2021 debt affordability study, which calls for maintaining the state’s 4% borrowing cap and setting aside more funding for state pension systems.
The committee, chaired by State Treasurer Dale Folwell, monitors how much money the state can afford to borrow without damaging its credit rating.
North Carolina is one of 13 states with the highest bond rating possible from all three credit rating agencies. Its AAA rating keeps interest rates down and limits taxpayers’ economic burden.
The committee said lawmakers should allocate