Governor Steers Pennsylvania in Wrong Direction
PHILADELPHIA, February 9, 2012 – Responding to Governor Tom Corbett’s budget address, which lacks a plan to stimulate Pennsylvania’s economy, Senate Democratic Appropriations Chair Sen. Vincent J. Hughes (D-Philadelphia/Montgomery) held a news conference today to discuss a plan to boost job creation and economic investment in Pennsylvania.
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“The governor unveiled a budget proposal earlier this week that does not make an investment in job creation, provides no plan to lift Pennsylvania’s lagging economy, and further slashes job training programs,” Hughes said. “Once again, the Corbett Administration is steering this commonwealth in the wrong direction.
“It is time to move Pennsylvania forward. Job creation and economic development must be out top priority and my plan includes innovative ideas that will actually grow our economy and put Pennsylvanians back to work.”
Hughes outlined a series of options intended to improve Pennsylvania’s economy and stimulate job creation, including:
- Legislation that would create a Pennsylvania Investment Bank Fund within the Commonwealth Financing Authority (“CFA”) to provide the CFA with flexibility to target capital investments to proven Pennsylvania economic development programs;
- Calling on the Governor to issue Grant Application Revenue Vehicle GARVEE bonds as a short term solution to the transportation funding crisis;
- Reinvesting in proven economic development programs with track record of success & restructuring existing programs that have not been effective;
- Implementing a responsible tax plan to target tax incentives and provide help to small businesses, homeowners, and working families.
“The Corbett Administration would rather cut first and ask questions later,” Hughes said. “Pennsylvania cannot flourish in that environment. We need to be innovative and smarter withour limited resources, and focus on creating jobs and investing in our citizens.
“Over the next few months, my Senate Democratic colleagues and I will continue to push these ideas and work toward a state spending plan that best reflects the needs of Pennsylvania.”