Can Borrowing Costs for Tribes be Reduced?
Tribal governments operate under borrowing restrictions that seem quite onerous. For example, they are limited in their ability to issue tax exempt bonds. Meanwhile, borrowing costs for tribal governments and tribal entities like casinos seem higher than warranted, at least in comparison to non-tribal counterparts. One explanation we have heard invokes legal uncertainty--for instance, about the scope and effect of a tribal government's waiver of sovereign immunity, the potential role of the federal government in a case of debt distress, and the availability of federal bankruptcy proceedings. Our guest is Kevin Washburn, Dean of Iowa Law and a leading expert in federal Indian law and the law of gaming. He joins us to talk about the relationship between the federal government and tribal nations and about ways to improve access to capital for tribal governments.
Producer: Leanna Doty