State Sen. Peter Inverso, R-Mercer, has proposed expanding the state's Commission on Capital Budgeting and Planning into a more powerful entity with broad responsibility for overseeing and approving state bond issuance.

"What we are looking at is some mechanism to do a much better job in terms of debt and having certain standards and parameters for the issuance of debt," Inverso said in an interview after the hearings. He said such standards might include regulations governing the hiring of financial advisers and bond counsel as well as underwriters.

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