HARRISBURG – The state House has passed legislation that would keep Pennsylvania on the path of fiscal responsibility by addressing the manner in which debt associated with the state’s Redevelopment Assistance Capital Program (RACP) is handled.
Among others, House Bill 785 drew support from state Rep. Matt Gabler (R-Clearfield/Elk), who has authored similar legislation in the past.
“I was proud to vote for House Bill 785, which continues a trend the General Assembly began four years ago when my House Bill 493 was signed into law,” Gabler said.
“Prior to that, RACP, a potentially useful job-creating tool, was treated like a credit card with an unlimited balance.”
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. House Bill 785 would create spending controls for new projects being financed by debt.
“House Bill 785’s combination of spending controls and responsible debt management practices will significantly reduce our debt and debt service,” added Gabler.
“This legislation becoming law would reduce the maximum amount of RACP debt, which can be outstanding at any time and limit the amount of money that could be spent on public improvement projects and RACP projects that are financed by debt.
“It’s what state government should be doing as an effective steward of taxpayer dollars.
“Crafting legislation like this fulfills the responsibility we have to taxpayers both present and future. Supporting this bill means standing up for the likes of my one-year-old daughter, who should not be burdened with paying for the fiscal irresponsibility of prior generations.”
House Bill 785 must still be approved by the Senate before being sent to Gov. Tom Wolf’s desk for his signature.
Questions about this legislation or any state-related matter may be directed to Gabler’s DuBois office at 814-375-4688, his St. Marys office at 814-781-6301 or Clearfield office at 814-765-0593.