General Fund exhausts Treasury’s $750 million loan

General Fund exhausts Treasury’s $750 million loan

State Treasurer Joe Torsella announced Wednesday afternoon that the General Fund—the state’s so-called largest checkbook—has exhausted a $750 million loan Treasury issued earlier this month from its Short Term Investment Pool to keep the fund above a zero balance.

 

The loan, which was released in full on Tuesday, must be paid back by next Wednesday.

Wednesday, August 16, 2017/Author: Jason Gottesman
Categories: News and Views
Rep. Gergely pleads guilty to corruption-related charges

Rep. Gergely pleads guilty to corruption-related charges

Rep. Marc Gergely (D-Allegheny) pled guilty Tuesday to a set of charges related to conspiracy and the illegal receipt of campaign donations in a larger case related to an illegal gambling ring with which Rep. Gergely was associated.

Tuesday, August 15, 2017/Author: Jason Gottesman
Categories: News and Views
Noting potential credit downgrade, Gov. Wolf urges House to finish balancing the state budget

Noting potential credit downgrade, Gov. Wolf urges House to finish balancing the state budget

Gov. Tom Wolf Monday urged House Republicans to return to voting session as soon as possible to finish up balancing the state budget before the Commonwealth faces another credit downgrade.

 

“They know they’ve got to get to work and we’ve got to get the job done. I think House Republicans are aware of that, I know they are aware of that,” he said. “Standard and Poor’s is threatening a downgrade and I’m trying to hold them off, but they’re looking at what goes on here and, basically, House Republicans need to get back here and get this over the finish line.”

Monday, August 14, 2017/Author: Jason Gottesman
Categories: News and Views
Wolf administration to lower time schools spend on PSSAs

Wolf administration to lower time schools spend on PSSAs

Gov. Tom Wolf, Education Secretary Pedro Rivera, and school administrators from throughout the Central Pennsylvania region announced Monday a new initiative to lower the amount of time schools and students spend on the PSSA tests—a standardized assessment taken in grades three through eight.

Monday, August 14, 2017/Author: Jason Gottesman
Categories: News and Views
Legislators propose limited state constitutional convention to “reinvigorate” state government

Legislators propose limited state constitutional convention to “reinvigorate” state government

Within the last month, two state legislators began the process of circulating a proposal that would create a limited state constitutional convention in the hopes of expediting state government reforms in Pennsylvania.

 

The identical proposals—currently sponsored by Sen. John Eichelberger (R-Blair) and Rep. Steve Bloom (R-Cumberland)—model their “limited convention” after the 1967 state constitutional convention that focused on government structure and reform.

Thursday, August 10, 2017/Author: Jason Gottesman
Categories: News and Views
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