The Costs of Harrisburg’s Budget Inaction

Thursday, May 5, 2016

Pennsylvania’s Auditor General, Eugene DePasquale, recently announced that the 2015-16 budget impasse was responsible for a total of nearly $1 billion in borrowing by the states’ school districts.  The interest payable is estimated at some $50 million.  DePasquale and his team will be monitoring the cost of any similar delays for 2016-17 budget, and he warned that another stalemate will likely cause another credit downgrade for the Commonwealth, increasing its borrowing costs.  

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