Solomon’s PICA renewal legislation passes Senate

HARRISBURG, July 1 -- State Rep. Jared Solomon, D-Phila., said today he worked closely with state Rep. Martina White, R-Phila., and House Minority Leader Joanna McClinton to pass bipartisan legislation to renew the Pennsylvania Intergovernmental Cooperation Authority Act for Philadelphia.

The bill passed the Senate on Thursday and is headed to Gov. Tom Wolf’s desk for his signature.

Solomon said PICA has been effective in stabilizing the economic health of Philadelphia that led to balanced budgets for 25 years. It borrows funds on the city’s behalf and in exchange, oversees Philadelphia’s finances.

“Economic conditions in Philadelphia affect the entire Commonwealth of Pennsylvania,” Solomon said. “We must renew PICA in order to keep Philadelphia fiscally sound and, as a result, the entire commonwealth will benefit. Today, we all worked together to ensure not only the financial health of Philadelphia but, through transparency, establish trust in the city’s financial decisions from taxpayers and legislators alike.”

“This is important legislation that will help the city as it continues to face financial uncertainty with its budget projects and limited choices,” White said.

“Philadelphia is an economic engine for our commonwealth, and by renewing the Pennsylvania Intergovernmental Cooperation Authority, we can ensure that the city continues on the path of economic viability benefitting our residents and our state,” McClinton said.