One of the proposed amendments to the Missouri Constitution would allow the State Treasury Department more flexibility to invest state money. Treasurer Scott Fitzpatrick supports the measure, saying it will enable the state to invest in bonds issued by local governments:
“You know, when I talked to other state treasurers and we explained to them that, you know, we can’t buy municipal bonds, we can’t buy money market mutual funds — they look at me like we’re crazy because you know, we’re kind of in a class of our own in that regard where literally every other state can kind of do those things.”
Fitzpatrick says allowing the state to have more investment options could provide more revenue for schools and state-provided services without raising taxes, and could even result in more tax cuts. Amendment One is on the November ballot.