General Fund exhausts Treasury’s $750 million loan

General Fund exhausts Treasury’s $750 million loan

State Treasurer Joe Torsella announced Wednesday afternoon that the General Fund—the state’s so-called largest checkbook—has exhausted a $750 million loan Treasury issued earlier this month from its Short Term Investment Pool to keep the fund above a zero balance.

 

The loan, which was released in full on Tuesday, must be paid back by next Wednesday.

Wednesday, August 16, 2017/Author: Jason Gottesman
Categories: News and Views
Taxpayer Caucus hears opposition to Senate-passed revenue plan

Taxpayer Caucus hears opposition to Senate-passed revenue plan

The legislative taxpayer caucus, met in Allegheny County at a hearing hosted by caucus member Rep. Jason Ortitay (R-Washington) this week to discuss the state Senate’s most recent budget revenue proposal to balance Pennsylvania’s $31.99 billion budget for the FY 2017-18.  


The caucus heard from a panel of utility officials, natural gas industry suppliers and workers, as wells as taxpayers who were mostly critical of the plan that would place an extraction tax on Marcellus Shale drillers and a gross receipts tax on natural gas customers, as well as a tax hike on electricity and phone bills.  

Wednesday, August 16, 2017/Author: Alanna Koll
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