JEFFERSON CITY, Mo. (AP) — Some Missouri lawmakers already hesitant to expand Medicaid now have a new reason to object: the potential effect on the state's debt.
Republican members of the Senate Appropriations Committee raised concerns Monday that an expanded Medicaid health care program could hurt the state's stellar credit rating, making it more expensive for Missouri to issue bonds.
Missouri currently enjoys a AAA credit rating — a fact that Democratic Gov. Jay Nixon and Republican legislative leaders alike frequently tout as evidence of their conservative financial management. But Moody's Investors Service last week assigned a negative outlook to Missouri because of its link to the federal government. That means a downgrade in the federal government's credit rating likely also would result in a downgrade in Missouri's credit rating.
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