Harrisburg, PA – Pennsylvania Treasurer Joe Torsella issued the following statement in response to the proposed Commonwealth budget released today.
“Today’s Commonwealth Budget address once again demonstrates the difficult fiscal challenges Pennsylvania faces. I commend the Governor for his willingness to make tough decisions, to pursue efficiencies and cost savings for taxpayers and to rethink how our state government operates while still investing in our future.
I remain concerned that any adopted budget be truly and sustainably balanced. Treasury has had to lend larger and larger amounts over increasingly frequent periods, to the Commonwealth simply to fund operating expenses. As the ratings agencies have noted, such reliance on short-term borrowing to fund operations is unhealthy, and evidence of a structural deficit.
Successfully addressing our challenges will require the commitment and input of citizens, stakeholders and leaders across the political spectrum, and Treasury is eager to work with both the General Assembly and the Governor.”
Pennsylvania Treasurer, Joe Torsella