HARRISBURG (CBS) – Governor Rendell’s plan for a one billion dollar bond issue before he leaves office has run into rough waters.
Either the state auditor general or the state treasurer must sign off on the billion dollars in borrowing. And Auditor General Jack Wagner says, “no can do”READ MORE: WATCH: Penn Student Calls For Sixers To Fire Doc Rivers During Graduation Ceremony
Wagner explains, “I have some serious concerns about debt problems, runaway debt problems.”
He’s concerned about saddling an incoming governor with a bond issue of this size. Steve Crawford is Governor Rendell’s chief-of-staff and he disagrees, “The auditor general is a good fiscal watchdog… we just think he happens to be wrong in this case.”READ MORE: Lt. Gov. John Fetterman Votes From Hospital With Emergency Absentee Ballot After Suffering Stroke
Crawford says most of the money is for needed improvements to public facilities and infrastructure, and he says if the state does not act now, it will lose the chance for federal subsidies that will help pay for the borrowing.
Be that as it may, the auditor general’s position means the fate of the bond issue lies in the hands of the treasurer, who is asking Governor-elect Tom Corbett’s input before he decides what to do. A spokesman says Corbett is reviewing the matter.MORE NEWS: Poll Workers At Kimmel Center Say Pa. Primary Election Turnout Down Considerably From 2020 Presidential Campaign
Reported by Tony Romeo, KYW Newsradio