By Drew Adams
Murray, KY – A proposal to set a debt limit on state spending is expected to receive an initial vote Wednesday in the Senate Committee on State and Local Government. The bill by Owensboro Republican Joe Bowen would cap General Fund debt at no more than 6 percent by amending the state Constitution. If the measure passes both state houses and is signed by the governor it would then be placed on the ballot for public ratification or rejection. Committee Chairman Senator Damon Thayer says 6 percent is a figure that is acceptable to Wall Street bond rating agencies. Thayer says it is important for the bill to be considered in this session because of national concern about debt.