Senate Republican leaders offered the following statements on the announcement by the state Treasurer that the Commonwealth needed a $750 million line of credit in order to keep the General Fund from falling into negative territory at the end of the month.
Senate President Pro Tempore Joe Scarnati (R-25): “Senate Republican Leadership understood the gravity of the 2017-18 state budget that was supported by most House and Senate members. The Commonwealth’s revenue situation is dire and the Senate worked efficiently to address it. Difficult decisions were made and we certainly did not come to the components of the revenue package lightly.”
Senate Majority Leader Jake Corman (R-34): “We understand the severity of the Commonwealth’s finances. It’s this reason that the Senate acted quickly last week to adopt a reasonable revenue package to fund the spending plan approved by the House and Senate. We have an obligation to govern and make the difficult decisions that will move toward steadying our financial footing.”
Senate Appropriations Committee Chair Pat Browne (R-16): “The Treasurer’s report today confirms what Senate Leadership has been saying for months regarding the dangerous financial situation facing the Commonwealth without a balanced budget. That is why it was critical and urgent for the Senate to act last week on a fiscally responsible revenue package. Without it, as the Treasurer also highlighted, the state’s financial position will quickly deteriorate, putting at risk private sector job creation and vital state programs and services.”