North Carolina running out of room to borrow for road projec

North Carolina running out of room to borrow for road projects - Carolina Journal


North Carolina may run out of room to borrow money for transportation projects in just a few years, according to a new report released this week by State Treasurer Dale Folwell.
This puts in jeopardy the state’s Build NC Bonds, a $3 billion transportation package approved in 2018. 
At the current rate, the Department of Transportation will run out of debt capacity in 2026 and won’t be able to issue all of the bonds it is scheduled to. There’s no room for more borrowing beyond what has already been authorized, the report states.
“The Department of Transportation should be much more prudent than it has been,” said Joseph Coletti, senior fellow for fiscal studies at the John Locke Foundation.

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