Muni-bond defaults are forecast to total between $1.7 billion and $2.1 billion in 2023.
The move is the latest in the GOP fight against what Republicans perceive to be liberal-leaning financial practices.
Baby bonds are government-issued trust accounts given to newborn children to generate wealth over the course of their childhood.
The proposed borrowing is more than double the $27 billion on ballots at this time last year.
The lack of affordable housing is threatening school administrators' ability to attract and hire employees.
The muni market is dominated by individual investors who tend to get spooked by negative returns.
Republican opposition to ESG movement has spread to the credit rating companies.
Strong endowment returns have helped bolster schools' balance sheets, driving the borrowing surge.
Baby bonds are government-funded trust accounts issued to newborn children.
The value of bonds directly owned by households fell by $18 billion in the fourth quarter of 2021.
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