Brief Debt Limits
How States Restrict Borrowing
Kim S. Rueben, Megan Randall
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Debt limits are provisions that limit a state’s ability to take on new debt or debt service. This fact sheet describes the different rules that states use to limit debt and reviews evidence on how debt limits affect fiscal outcomes.

Research Areas Economic mobility and inequality Taxes and budgets State and local finance
Tags Fiscal policy State and local tax issues
Policy Centers Urban-Brookings Tax Policy Center