FOR IMMEDIATE RELEASE: June 29, 2011
HARRISBURG- Rep. Stephen Bloom (R-Cumberland) issued the following statement today in response to the passage of the final 2011-12 state budget, which spends a total of $27.149 billion:
"While I am not pleased by all the elements in this budget, I am pleased that I was able to vote for a balanced budget that cuts spending and does not raise taxes."
"It is important that we did not overspend based on speculative projected revenues. We still face approximately $50 billion in major liabilities such as the underfunded pension system and unemployment compensation debt owed to the federal government."
"Taxpayers wanted reduced spending, no new taxes and no new borrowing. We needed to protect the taxpayers and encourage the productive enterprises that employ them, not the bloated big government bureaucracies."
"While I would like to have seen more comprehensive tax cuts, at least we have now begun the process of eliminating the burdensome Capital Stock & Franchise Tax, and by holding the line we are laying a responsible groundwork for future tax and spending cuts."
# # #