McConnell Says He Favors Letting States Declare Bankruptcy
- Senate leader says his party opposes bailout of state pensions
- Hits ‘pause button’ on any additional pandemic aid to states
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Senate Majority Leader Mitch McConnell said Wednesday he favors allowing states struggling with high public employee pension costs amid the burdens of the pandemic response to declare bankruptcy rather than giving them a federal bailout.
“I would certainly be in favor of allowing states to use the bankruptcy route,” he said Wednesday in response to a question on the syndicated Hugh Hewitt radio show. “It’s saved some cities, and there’s no good reason for it not to be available.”