Yesterdays report released by the Independent Fiscal Office showed that Pennsylvania is facing a financial crisis as a result of a multi-billion dollar budget deficit. The following statements were released by Mary Soderberg, Chair, and Josh Shapiro, Vice-Chair, of Governor-elect Tom Wolfs Budget Deficit and Fiscal Stabilization Task Force: Mary Soderberg - Budget Deficit and Fiscal Stabilization Task Force Chair: A multi-billion dollar deficit and a stagnant economy will present significant challenges for the incoming administration. Our task force is working to understand the complexity of the situation at hand, but in the end there is no question that the legislative leaders on both sides of the aisle are going have to work together to reach solutions for the people of Pennsylvania. Montgomery County Commission Chairman Josh Shapiro - Budget Deficit and Fiscal Stabilization Task Force Vice Chair: The reality of the depth of Pennsylvanias financial crisis is unknown, but yesterday we learned that the deficit being handed to the incoming Wolf Administration is a multi-billion dollar hole. Making matters worse, the IFOs projections came on the same day we learned that the Corbett Administration has maxed out its borrowing for basic expenses. There are great challenges ahead, and both parties must come to the table to find new solutions to addressing this crisis.
Posted on: Fri, 14 Nov 2014 20:13:53 +0000
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