Martin Responds to Savings to Taxpayers Generated by Bond Sales, Credit Rating Upgrades

HARRISBURG – Senate Appropriations Committee Chairman Scott Martin (R-Lancaster) released the following statement today in response to long-term savings to taxpayers of nearly $100 million as a result of recent credit upgrades and bond sales:

“These savings are a direct result of Pennsylvania’s sound financial management led by Senate Republicans over the past several years. The nation’s major credit rating agencies have taken note of the fact that Pennsylvania has managed its resources responsibly and avoided new long-term obligations, which has led to record budgetary reserves. This further validates the hard decisions we’ve made and the fiscally responsible approach we have advocated for years.

“At the same time, the major rating agencies have made it abundantly clear that maintaining these upgrades depends on how we manage our state budget in the years ahead. We still face significant financial challenges that will necessitate a smart, disciplined approach and require us to responsibly operate within our means. Taxpayers expect us to manage their money wisely, and we owe it to them to continue fighting for a responsible, sustainable budget.”

CONTACT: Jason Thompson

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