State lawmakers are approving a $50.64 billion budget for the fiscal year that starts Friday, including $2 billion to expand property tax rebates and credits and a $6 billion surplus to guard against a possible economic downturn.
Sen. Michael Testa said that in addition to the federal aid, the state has to decide how to spend $4.3B from COVID emergency borrowing that wasn’t truly necessary and can’t be repaid early because of the way the debt was structured.
"I see this as a program that seems quite ambitious,” said Sen. Mike Testa, R-Cumberland. "…How long can this project be funded? I share the fears with Chairman Sarlo that we start this program and it’s going to be phased out quickly."