Pennsylvania Gets 2nd Treasury Loan To Make Payments On Time

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HARRISBURG, Pa. (AP) – The Pennsylvania Treasury is extending a five-day, $700 million credit line to tide over the state government’s deficit-ridden finances.

Pennsylvania Treasurer Joe Torsella said in a statement Thursday that the credit line is to be paid back no later than Oct. 20. He says the cash is necessary for Democratic Gov. Tom Wolf’s administration to make payments on time to Medicaid providers.

It is the second such short-term loan Torsella, also a Democrat, has extended to the state this year. Torsella had refused to extend a loan last month, noting the Legislature hadn’t approved a revenue package to fully fund a $32 billion budget bill lawmakers approved June 30.

However, Torsella notes that Wolf is taking unilateral action to balance the budget. That includes looking to borrow nearly $1.5 billion.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

  1. David Colton says:

    This is all WRONG! The Democrats feet should be held to the fire. The legislators should be forced to work 16 hours a day, 7 days a week-with ZERO pay, till they approve a budget. in case YOU forgot, the LAW says that we should have a balanced budget. I “pick” on the Democrats (cause they are in power at this time.) However the Republicans are acting like spoiled kids too.
    It is VERY clear to me that NO one in Harrisburg does anything for their people-unless they gain financially.They only do for themselves.
    STOP their paychecks, until they have a budget. It’s not rocket science.

    1. I’m with David on this one. This state is soooooo corrupt, it’s sickening. I am counting the days until I can leave this hole called Pennsylvania. The politicians in this state almost make the politicians in New York & New Jersey look wholesome. And Tom Wolf? Just a disgusting creature. Randy McDaniels, TLC.

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