House Finance Committee cancels Monday vote on severance tax proposal

House Finance Committee cancels Monday vote on severance tax proposal

While the House Finance Committee had sunshined a Monday vote on a severance tax proposal that would have imposed a 3.2 percent severance tax on natural gas extracts on top of the already-existing local impact fee, the meeting was abruptly cancelled on Friday.

Friday, October 13, 2017/Author: Jason Gottesman
Categories: News and Views
Treasurer Torsella extends $700 million short-term line of credit to the General Fund

Treasurer Torsella extends $700 million short-term line of credit to the General Fund

State Treasurer Joe Torsella announced Thursday afternoon that he has extended the General Fund a $700 million short-term line of credit to help deal with immediate cash-flow concerns.

Thursday, October 12, 2017/Author: Jason Gottesman
Categories: News and Views
DePasquale riffs on budget morass

DePasquale riffs on budget morass

Auditor General Eugene DePasquale Thursday offered takes related to the current state budget situation, noting those in charge of figuring out how to balance and manage state finances are not facing “a lot of ideal decisions.”

Thursday, October 12, 2017/Author: Jason Gottesman
Categories: News and Views
Gov. Wolf confident October pressure-point payments will not be missed

Gov. Wolf confident October pressure-point payments will not be missed

Gov. Tom Wolf said Wednesday that as he continues to manage the state’s fiscal situation in the absence of a budget-balancing revenue package from the General Assembly, he is confident that State Treasurer Joe Torsella will resume authorizing short-term lending to allow enough cash-on-hand to make October payments to human services providers and public schools.

Wednesday, October 11, 2017/Author: Jason Gottesman
Categories: News and Views
Gov. Wolf reboots plan to monetize Farm Show Complex through a lease-leaseback

Gov. Wolf reboots plan to monetize Farm Show Complex through a lease-leaseback

Gov. Tom Wolf announced Monday that, as part of his ongoing effort to manage state finances in the absence of a balanced budget, that he is rebooting a plan from his February budget address to monetize the Pennsylvania Farm Show Complex through a lease-leaseback provision.

Monday, October 9, 2017/Author: Jason Gottesman
Categories: News and Views
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