Because the plan involves borrowing, it needs three-fifths of the Legislature to vote aye. That means Republicans who didn't support the tax increase would have to support borrowing.
plan to issue $8.75 billion in bonds to get social service providers, hospitals and others the money they are due was introduced at the same time as the tax increase, but the measure did not pass.
Without this component of the plan, school districts, social service providers, hospitals and other state vendors will continue to struggle for survival as we slowly climb out of this fiscal hole…
Unlike short-term borrowing, which requires the comptroller and the treasurer to give the OK, long-term bonds only need approval from the General Assembly and governor.
Topinka said she is trying to make it so she can pay bills incrementally. Currently, any receipt given to the state has to be paid in full, which has caused a lot of problems, Topinka said.
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