Dermody says House Republican budget failure costs Pa. taxpayers

HARRISBURG, Sept. 20 – House Democratic Leader Frank Dermody said today’s announcement from Standard and Poor’s of a lower credit rating for the Commonwealth of Pennsylvania is a direct result of the failure of House Republican leaders to honestly deal with the state’s budget situation.

“We were warned multiple times that this could happen, yet a few House Republican leaders in position to do something productive about it chose to do nothing instead,” Dermody said. “After every House Republican leader voted for a budget spending $32 billion on June 30, that same leadership group proved incapable of finding an honest and realistic revenue plan to pay for it.

“The plan that House Republicans finally passed last week was a bad joke. It cuts vital services and doesn’t add up. They employed almost every gimmick that the credit rating agencies specifically warned against. The result of that irresponsibility is no joke. Every Pennsylvania taxpayer will pay a price for the House Republican leadership’s obstruction. So will every county, city, borough and township,” Dermody said.

“It didn’t have to be this way. It shouldn’t be this way. Today’s news is a blow to our state’s fiscal standing. It’s also an opportunity for everyone, including House Republicans, to take stock of the situation and get back to work on a real budget solution that includes recurring revenue.”