Gabler Debt Reduction Legislation
Bound for Governor's Desk
“Passage of House Bill 493 is a vote for the people of Pennsylvania, who deserve better stewardship of their hard-earned dollars, as well as those of future generations,” Gabler said. “I am glad to see my colleagues in both the Senate and the House agree with this legislation, which increases the efficiency of an economic tool that is already in place, but was often misused by the previous administration.”
RACP is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic and historical improvement projects with a focus on job creation. Gabler’s legislation decreases the RACP debt ceiling from its current $4.05 billion to $3.45 billion, an immediate reduction of $600 million.
“My bill places less of a burden on our kids and grandkids by reducing the amount of debt we are allowed to carry and forced to pay on every year,” Gabler pointed out. “As a result, more tax dollars will now be available for support and maintenance of government’s core functions.”
Under Gabler’s legislation, RACP projects will also follow a more transparent legislative and administrative process for approval.
“House Bill 493 is a follow-up to last session’s House Bill 2175, which passed the House but stalled in the state Senate,” Gabler commented. “The General Assembly must set an example as a good money manager, and House Bill 493 follows the lead of the previous legislation by making permanent the manner in which our state does business.”