Mark Sanford Raises the Stakes
Phil Klein has the letter Gov. Mark Sanford (R-S.C.) sent to the White House vis-a-vis his refusal of $700 million of stimulus cash. The headline is probably
Jul 31, 2020120.8K Shares2.2M Views
Phil Klein has the letter Gov. Mark Sanford (R-S.C.) sentto the White House vis-a-vis his refusal of $700 million of stimulus cash. The headline is probably Sanford’s call for President Obama to “immediately condemn and put an end to this unnecessary politicization” by commanding the DNC to pull anti-Sanford ads. The larger point:
“„In the spirit of moving forward, I’d offer the following as a clarification to our using a portion of the stimulus funds to paying down our state’s sizable debt. With regard to the Education Stabilization Fund monies (ARRA § 14002(a)(1)) that must be used “for the support of * education,” we think it would be consistent with statutory requirements to use this $577 million to pay down the roughly $579 million of principal for State School Facilities Bonds and Research University Infrastructure Bonds over two years. This would immediately free up over $162 million in debt service in the first two years and save roughly $125 million in interest payments over the next 13 years, which could then be directed towards other educational purposes – just as paying off a mortgage early frees up the typical monthly payment for other uses.
He’s not giving this up.
Rhyley Carney
Reviewer
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