Bricks and budgets

As Maine sifts through it s budget surplus, looking for additional dollars to help renovate its schools, it may receive a substantial boost from the federal government. And unlike many other gifts from the feds, this legislation doesn’t come with more conditions than dollars.

The proposal, sponsored by Sen. Olympia Snowe, would use $20 billion in federal funds to make low-interest loans to pay higher levels of interest owed on school construction bonds through 2002. The interest savings would allow school officials to leverage more funding for construction or renovation. Maine’s share of this money would be approximately $80 million to $100 million. The bill is expected to be considered next month.

That money is substantially larger than proposals before the Maine Legislature, which would add $20 million a year to help the state catch up with school repairs and expansions and add substantially to the allowed debt ceiling. Because nothing in politics comes without strings, the state proposals are backed by Senate President Mark Lawrence, Sen. Snowe’s Democratic rival for her job. The two can debate this fall who thought of the ideas first.

Whoever thought of it, Maine schools clearly need investment. Not only do roofs leak and heating systems fail, there is a regular need for more space to accommodate new technology. Maine, properly, has noted that it cannot build a new school every time an old one needs an overhaul. Nationally, the average public school is 42 years old and, according to the U.S. General accounting Office, the nation’s schools need $112 billion to bring them into good overall condition.

Sen. Snowe’s bill is called Building, Renovating, Improving and Constructing Kids’ Schools Act — BRICKS — an unwieldy name that nevertheless streamlines a process for moving federal dollars into state accounts. The states get the loan with a minimum of paperwork and an absence of requirements beyond need. Money for the program would come from the Exchange Stabilization Fund, which provides loan guarantees to other nations. Sen. Snowe observed, If the $40 billion ESF fund can be used to bail out foreign currencies, certainly it can be used to help America’s schools.

Whether the ESF is the best source of funding or another source is identified, the important issue is that the federal government can provide valuable assistance to the states in a nationwide problem. Sen. Snowe should find wide-ranging support for the idea.