Pennsylvania lawmakers anticipate they will pass a $28 billion fiscal 2009 budget today along with a plan to borrow nearly $3 billion of general obligation and appropriation debt to support capital projects throughout the commonwealth.
The proposed bond bill would give the state more borrowing power than previous years. Last year, lawmakers approved $752 million of debt for infrastructure upgrades compared to the roughly $3 billion that Gov. Edward Rendell would like to invest in the state for fiscal 2009, which began July 1. The borrowing plan includes $1.2 billion for water and sewer infrastructure developments, $800 million for capital projects that generate redevelopment, $650 million to upgrade utility systems that will expand renewable energy sources, and another $350 million to repair 400 of the state's most deficient bridges, among other infrastructure improvements.