I’m working on a accounting discussion question and need a sample draft to help me learn.
In a move to reduce taxes by having less tax-supported debt, a group has proposed an amendment to the state’s constitution to prohibit any new debt issuances by the state or any local government. Supporters of the amendment claim the proposed measure would force the government to operate more efficiently while opponents fear public services and quality of life will be severely impacted if the amendment is adopted. What types of projects are typically financed with long-term debt and how would passage of the amendment impact communities in the future if they cannot issue long-term debt?
