KS Governor boasts ability to pay off state’s debt early

13 News Eye on Northeast Kansas
Published: Nov. 17, 2021 at 9:47 AM CST
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TOPEKA, Kan. (WIBW) - Governor Laura Kelly announced Wednesday morning that the State of Kansas has paid off a long-standing loan two years ahead of schedule.

She said the Legislature took out a Pooled Money Investment Board (PMIB) loan in 2017 to fill budget holes.

“Thanks to three years of fiscal responsibility, we’ve paid off this debt, continue to fund our schools and roads, and we can afford good policy – like axing the state’s food tax – to provide tax relief to Kansas families,” Kelly said.

The governor claims poor fiscal policy by the previous administration forced the state to borrow over $300 million from the Pooled Money Investment Board. The state board manages and invests money available from the State General Fund (SGF) and other state and local funds deposited with the State Treasurer.

Budget Director, Adam Proffitt said, “Because of Governor Kelly’s leadership and due to her prudent fiscal decisions, the budget has not only stabilized but reenergized the economy. Kansas is now in a position to pay off the loan two years ahead of its original schedule and that’s no small task, especially during uncertain economic times.”

Gov. Kelly also boasts her administration’s ability to create over 30,000 jobs, bring in over $7 billion business dollars invested in Kansas, and implement a statewide bipartisan infrastructure program all while paying off the loan ahead of schedule.

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