Jones Lets Democrat Take Charge of Billion Dollar Bond Issue
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Jones Lets Democrat Take Charge of Billion Dollar Bond Issue

Date: January 23, 2013
By: Nick Thompson
State Capitol Bureau

Intro: 
The Missouri House Speaker says his chamber is accruing more political interest in taking on public debt to finance the state's future.
RunTime:  0:45
OutCue:  SOC

Wrap: Republican House Speaker Tim Jones announced he will work to deliver the votes to pass the largest bond issue in state history.

Jones says low interest rates, low construction costs and a pristine credit rating make it an offer few in the legislature should refuse.

Actuality:  JOBOND7.WAV
Run Time:  00:08
Description: "We have a desperate need to improve aging infrastructure, projects that have been discussed year in and year out but remain on the books."

Republican Senator Ed Emery says business experience has taught him borrowing is not the answer.

Actuality:  EMEFINAL.WAV
Run Time:  00:08
Description: "bonding has more risks than we generally feel free to talk about. We underestimate the risk and overestimate the potential."

The Missouri Chamber of Commerce announced their support of the bill Wednesday.

Reporting from the state capitol, I'm Nick Thompson.

Intro: 
While Washington lawmakers are sure to squabble over the federal borrowing limit in the next few months, The Missouri house speaker says his chamber will also spend time talking about borrowing more money
RunTime:  0:45
OutCue:  SOC

Wrap: Republican House Speaker Tim Jones announced he will work with Columbia Democrat Chris Kelly to deliver the votes to pass a nearly one billion dollar bond issue proposal.

And Jones says Kelly will lead a special committee to do the heavy lifting.

Actuality:  JONBOND1.WAV
Run Time:  00:10
Description: "As far as my concern right now is this is big picture at the moment. The committee will be the one that will begin meeting, and they will be the ones that will dive into the weeds."

But Republican Senator Ed Emery is not sure borrowing is the best way to fund Missouri's future.

Actuality:  EMERY1.WAV
Run Time:  00:07
Description: "the future is unpredictable and any time you borrow money as a state you are putting the entire state at risk."

Kelly says the new projects would have the potential to create 40,000 permanent jobs.

Reporting from the state capitol, I'm Nick Thompson.

Intro: 
The Republican Speaker of the House now supports a proposal to allow one of the largest issuances of debt in the history of Missouri.
RunTime:  0:44
OutCue:  SOC

Wrap: Republican House speaker Tim Jones announced he will help Columbia Democrat Chris Kelly get a one billion dollar bonding bill through the chamber. 

Jones has opposed bonding in the past, but is jumping on board this time.   

One reason, Jones says, is the interest would be a third of what it was when the last issue was passed.   

But Republican Senator Ed Emery says borrowing passes risk on to taxpayers.  

Actuality:  EMEFIN2.WAV
Run Time:  00:14
Description: "borrowing is exchanging today's problems for tomorrow. And whether it turns out well it turns out bad that's what you're doing. you're saying I need some relief today and so I put tomorrow at risk."

Kelly says projects would have the potential to create thousands of jobs.

Reporting from the state capitol, I'm Nick Thompson.


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