Franchot Sounds Alarm As State Gets Close To Approaching Its Debt Limit

As the world is still reeling from the partisan gridlock in Washington over raising the federal debt ceiling, Comptroller Peter Franchot sounded the alarm on Wednesday over a project that may force Maryland to have to raise its own debt limit. The project, a 20-year lease for the Maryland Economic Development Corporation to sell bonds to construct and equip a new state Public Health Laboratory in the Johns Hopkins University Science + Technology Park, will cost the state $15.3 million a year.

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