Legislature may borrow money to weather Pa. budget impasse
The late state budget could create money problems for Pennsylvania’s House and Senate over the next couple of months.
Both chambers of the Legislature are facing the prospect of running out of money if the budget standoff continues. They’re tapping into surplus funds, but those are running low.
The Senate expects to empty its reserves in September. It wasn’t immediately clear when the money would run out for the House, where Republican and Democratic caucuses manage their own surplus funds.
“If need be, and I’m hoping that this doesn’t have to be the case,” said House Speaker Mike Turzai, “we would get a line of credit … to maintain our operations.”
Taking out a line of credit could leave the Legislature with additional costs in the form of interest payments. Going to the state Treasury for an advance is also an option, although Republicans are concerned that isn’t legal for the legislative branch.
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