A new report from Moody’s, a leading provider of credit ratings, research, and risk analysis, reveals Nebraska has the lowest total net tax-supported debt (NTSD) of any state.
According to the report, Nebraska holds only $20 of NTSD per-capita. NTSD is defined, according to Moody’s, as debt secured by state taxes or other operating resources which could otherwise be used for state operations, net of obligations that are self-supporting from pledged sources other than state taxes or operating resources.
What does the Nebraska Governor Pete Ricketts think about that?
“Financial responsibility is a core value for Nebraska’s families, communities, and the state,” said Ricketts. “At the state level, this is reflected in our commitment to a balanced budget, which protects taxpayers against the kinds of unsustainable financial commitments other states make. These rankings are the result of generations of Nebraskans working together to build strong families and communities.”
Holding a high level of NTSD places a state at risk of insolvency when the debts are due. Nebraska’s low NTSD is a sign of strong fiscal health, a good indicator for businesses looking to move to the state.
“Nebraska’s fiscal management illustrates the state’s commitment to a strong business environment,” said Mary Plettner, CEcD, NPPD Economic Development Manager. “Companies looking at our state can be assured that Nebraska is a good place to locate.”
Courtesy office of Governor Pete Ricketts