Alternate Bond Package Includes Funds for Hospitals
Assembly Speaker Fabian Nunez (D-Los Angeles) on Tuesday proposed a $35 billion infrastructure bond plan that includes funds to help not-for-profit hospitals pay for earthquake-safety improvements, schools and other public works projects, the AP/Contra Costa Times reports.
According to Nunez, Gov. Arnold Schwarzenegger's (R) $68 billion bond plan "is not a fiscally prudent approach." Nunez said the governor's plan would commit too much of the state's annual revenue to debt payments, which could jeopardize future funding for state programs.
Under Nunez' plan, bond measures totaling $35 billion would be placed on the ballot this year and in 2008. The bond package includes $2 billion to help hospitals that treat the uninsured pay for seismic safety retrofits.
Nunez said a smaller bond package would be less likely to limit the options of future governors and lawmakers.
The Legislature has until March 10 to place a bond measure on the June ballot (Lawrence, AP/Contra Costa Times, 2/22).