As budget-related revenue impasse continues, S&P downgrades Pennsylvania’s bond rating

As budget-related revenue impasse continues, S&P downgrades Pennsylvania’s bond rating

Standard and Poor’s announced on Wednesday morning that they are downgrading Pennsylvania’s bond rating amid the ongoing budget stalemate, the failure of lawmakers to fix Pennsylvania’s chronic structural imbalance, and weakening liquidity.

Wednesday, September 20, 2017/Author: Jason Gottesman
Categories: News and Views
Gov. Wolf: “Neither the Senate nor I like the House package”

Gov. Wolf: “Neither the Senate nor I like the House package”

Gov. Tom Wolf made two Pittsburgh-area radio appearances Tuesday morning during which the top topic of interest was progress being made on reaching agreement to balance the state budget.

Tuesday, September 19, 2017/Author: Jason Gottesman
Categories: News and Views
Senate begins review of House-passed budget-balancing plan

Senate begins review of House-passed budget-balancing plan

The Pennsylvania Senate reconvened Monday for the first time since July and their top order of business was a review of the budget-balancing plan the House passed last week.

Monday, September 18, 2017/Author: Jason Gottesman
Categories: News and Views
Gov. Wolf: “The right thing to do is for the House Republicans to get back to work and finish the job”

Gov. Wolf: “The right thing to do is for the House Republicans to get back to work and finish the job”

With the Commonwealth perhaps just days or weeks away from the need to borrow additional money to keep the General Fund balance above zero and maintain paying the state’s bills, Gov. Tom Wolf said Tuesday that House Republicans need to return to session to work through a solution that balances the $31.99 billion budget that became law in early July.

Tuesday, August 22, 2017/Author: Jason Gottesman
Categories: News and Views
Scarnati: “This isn’t governing, this is an embarrassment”

Scarnati: “This isn’t governing, this is an embarrassment”

As state lawmakers are staring down the prospect of a credit downgrade and the lack of spendable General Fund money in the absence of a balanced budget, the rhetoric and frustration were visibly ramped up Monday as the House Republican Caucus continues to try to work to find some sort of a compromise on $2.2 billion worth of money needed to balance the $31.99 billion budget enacted earlier this summer.

Monday, August 21, 2017/Author: Jason Gottesman
Categories: News and Views
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