HARRISBURG – Pennsylvania Senate President Pro Tempore Kim Ward (R-39), Senate Majority Leader Joe Pittman (R-41) and Senate Appropriations Committee Chair Scott Martin (R-13) issued the following statement today in reaction to the Shapiro Administration announcement of the refinancing of approximately $1.159 billion in General Obligation refunding bonds, touting responsible financial management:
“It’s good news that Pennsylvania taxpayers will save $71 million due to the refinancing of state bonds. Our strong financial position today is because Senate Republicans have repeatedly fought the massive spending impulses of the Wolf Administration and Shapiro Administration over the past several years. In fact, the vast majority of the savings in our state’s fund balance and our Rainy Day Fund were built before Gov. Shapiro even took office.
“Gov. Shapiro’s budget proposal this year totals nearly $51.5 billion – an increase of $3.6 billion from the current year’s budget – and does not include a realistic path to close the state’s multi-billion-dollar structural deficit. This unrealistic spending would ultimately lead to future tax increases for Pennsylvanians.
“Senate Republicans have been honest with Pennsylvanians about the realities of Pennsylvania’s current fiscal position, because we believe taxpayers deserve an authentic accounting and a clear picture of what the governor’s spending plans would mean for hardworking families throughout the Commonwealth. We will continue to stand up for Pennsylvania taxpayers and families as we work to reach a responsible budget agreement and keep our state in a strong fiscal position.”
Erica Clayton Wright (Sen. Ward)
Kate Flessner (Sen. Pittman)
Jason Thompson (Sen. Martin)