Both the current and incoming governor’s team will hold dueling press conferences about the state’s budget.
Governor-elect Tom Wolf will hold a press conference to discuss the state’s fiscal situation Wednesday at the Yorktown Hotel at 12:30 p.m. Budget Secretary Charles Zogby will give a mid-year briefing Wednesday at the Capitol Media Center at 2 p.m.
Back in september, the state’s bank account was overdrawn until a $1.5 billion dollar line of credit was engineered by Treasurer Rob Mccord. McCord held a press conference with State Auditor General Eugene Depasquale. The two democrats said that the state had no rainy day fund and that one time fixes were all but exhausted.
Budget Secretary Zogby said McCord and Depasquale were just playing politics weeks before the election. The state has borrowed like this before. Zogby did admit that borrowing was needed because revenues weren’t keeping up with expenses.