By Joe Mahoney, includes “State taxpayers will be on the hook for billions of dollars in increased finance charges over the next four years as a result of growing government debt, the state comptroller says. Thomas DiNapoli called for a constitutional amendment to cap state debt at 5 percent of personal income, starting with the state budget for the 2027-28 fiscal year, along with an end to the practice known as 'back-door borrowing' — a fiscal gimmick used by some state authorities.”
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