The Connect NC Bond Act does not appear to be driven by a single coherent vision of how to use state investments to support economic growth. As can be seen below, the House and Senate versions put out over the last month have varied enormously over the total size of the bond and the type of projects to be funded. Concerns over cutting taxes while going farther into debt aside, the bond act shows that there is no single guiding star by which the legislature is sailing.
To be fair, some of this is just the legislative process in action. When you’re making a multi-billion dollar sausage, there’s going to be lots of back and forth on the ingredients. Still, while the bond bill outlines how important investments are to our economic future, it reveals relatively little consensus on what those investments are or how to make them.
Here are a few of the major changes to the bill compared to what the House presented last month (For a complete breakdown of how the bond package has changed, see the document below): Read More