Torsella: No Loans Until Complete Budget is Passed

joe-torsellaState Treasurer Joe Torsella said he will maintain his stance that the Treasury will not loan money until the state passes a complete budget.  

“Has the short-term borrowing that’s enabled us to get through years and years–has it had the outcome of putting us on sounder footing? I think the answer you have to say to that is no,” Torsella said at the Pennsylvania Press Club, according to State House Sound Bites.

Torsella has faced opposition to his decision from Republicans, including House Appropriations Chair Stan Saylor (R-York).

“I believe that as long as we have a state budget in place and there’s money there, we can borrow from ourselves to pay the bills.  I don’t want people not to receive the payments that they should justly get when we have the money sitting there,” Saylor said.

While Torsella says he supports a tax on natural gas producers, he will start loaning money again to the state once they pass a funding package regardless of if that tax is included in the package.

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