Senate Approves Transfer of Funds to Ease
Budget Deficit
Harrisburg -- The state Senate today approved legislation sponsored by Sen.
Mary Jo White (R-21) to transfer much-needed revenue into the state's General
Fund budget, helping to close a budget deficit without increasing taxes on
working Pennsylvanians.
Senate Bill 490 would transfer $174 million from the Oil and Gas Lease Fund
to the General Fund to help address the state's $2.3 billion budget deficit.
"The governor's plan for balancing the budget is predicated on transferring
$174 million to the General Fund. This legislation accomplishes that," said
White, who chairs the Senate Environmental Resources and Energy Committee. "It
does so while leaving more than enough money to fund Pennsylvania's
environmental programs. Fiscally challenging times like this demand that state
government do all it can to maximize existing resources and spare taxpayers of
an increased burden."
Senator White noted the many investments the General Assembly and Governor
have made in environmental programs in recent years:
- $650 million in 1999 under the original Growing Greener program.
- $700 million more in 2002 under Gov. Schweiker's expansion of Growing
Greener.
- $625 million more in 2005 when the Legislature worked Gov. Rendell to
adopt the Growing Greener Bond Act.
- $650 million in 2008 adopted as the Alternative Energy Investment Fund.
- $1.2 billion in 2008 bonds for water, sewer, dam and flood control
improvement projects.
- Nearly $45 million annually to support recycling efforts.
- Significant revenues which continue under the Key '93 program.
Senate Bill 490 will be sent to the House of Representatives for
consideration.
CONTACT:
Patrick
Henderson
(717) 787-9684
Additional Information:
Tax Relief
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