ALAMEDA, Calif. — Washington Treasurer James McIntire has thrown his support behind a proposal to reduce the state’s constitutional debt limit and revise the formula used to calculate it.

The proposed constitutional amendment, which cleared the Senate Ways and Means committee Thursday, would reduce the debt limit from 9% of general state revenue to 7%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.