Media
PA Senate Approves $1.7 Billion in New Borrowing
While the debate over table games continues, another piece of legislation passed with little debate was the $1.7 billion in borrowing for the state capital budget. HB 1418 passed the Pennsylvania Senate yesterday by a 48-1 vote. The borrowing includes $325 million for Redevelopment Capital Assistance – $125 million more than last year – some of which has already been promised to Harley Davidson.
Of course, the new borrowing adds to what has already been an escalation of Pennsylvania state debt under Governor Rendell.
Capital Budget Borrowing 2008-09 vs 2009-10
| Act 54 of 2008 |
HB 1418 |
Difference |
|
|
2008-09 |
2009-10 |
||
|
Buildings and Improvements |
$404,000,000 |
$920,000,000 |
$516,000,000 |
|
Furniture and Equipment |
$15,000,000 |
$15,000,000 |
$0 |
|
Transportation Assistance |
$180,000,000 |
$192,000,000 |
$12,000,000 |
|
Redevelopment Assistance |
$200,000,000 |
$325,000,000 |
$125,000,000 |
|
Flood Control |
$41,000,000 |
$30,000,000 |
($11,000,000) |
|
Bridge Projects |
$350,000,000 |
$200,000,000 |
($150,000,000) |
|
Highway Projects |
$35,000,000 |
$0 |
($35,000,000) |
|
Total |
$1,225,000,000 |
$1,682,000,000 |
$457,000,000 |