Md. debt limit increased, despite Franchot objections

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Maryland Comptroller Peter Franchot was the lone voice opposing an increase in the state debt affordability limit Monday. Gov. Martin O’Malley’s appointees on the committee also beat back attempts by Franchot and State Treasurer Nancy Kopp to keep from floating $1.1 billion in new debt next year, in order to help jump-start a slowing economy.

The increase means the state will again be able to spend $325 million on public school construction next year, a number O’Malley is touting around the state this week.

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