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Wolf wants to make Pennsylvanians pay more long-term for a short-term budget fix

By   /   February 9, 2017  /   No Comments

In order to help close the budget gap for the coming fiscal year, Democratic Gov. Tom Wolf has proposed leasing the Farm Show Complex … and then having it leased back to the state.

The deal would provide the state with $200 million dollars immediately, but at the cost of nearly three decades worth of interest payments, as yet undetermined, plus repaying the principle. The state would still run and own the Farm Show Complex, which is in Harrisburg.

One financial adviser described the proposal as something like a bond, without the bond.

Not everyone is on board.

“I’m not going to sell the Farm Show and put it into the general fund for one year of a budgetary fix,” Republican state Sen. Jake Corman said.

Read more here.

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