Senator Brubaker Responds to Gov Corbett’s Proposed 2013 Budget
Finance Chair Releases Statement on Budget, Addresses Pennsylvania’s Pension Crisis
HARRISBURG — Senator Mike Brubaker (R-36), Chairman of the Senate Finance Committee, issued the following statement today regarding Governor Corbett’s spending plan totaling $28.4 billion and his intentions to address the approximately $44 billion unfunded liability surrounding the Commonwealth’s public employee pensions.
“The Governor has outlined his budget plan for the 2013-2014 Fiscal Year and has increased funding for a number of well-deserved programs such as education, health and human services and Farmland Preservation. However make no mistake about it, these increases are hinged on comprehensive reform to the current pension system and the privatization of the state’s liquor stores and the state lottery.”
“I am a cosponsor of Senate Bill 2, legislation sponsored by my colleague, Senator Pat Browne, which is an attempt to limit additional accumulation of pension debt by making significant modifications for future employees’ pension benefits. However altering the pension plan for new employees merely stops the bleeding. That’s why further reform is also necessary to ensure our pension system is economically sustainable. The $44 billion unfunded liability is real and must be paid.”
“The Senate Finance Committee will be pivotal in moving legislation that will tackle the unfunded liability faced by the Commonwealth, and as Chair of that Committee, I am open to discussing all pension reform proposals. I look forward to working with my colleagues to finally address the pension crisis facing our Commonwealth and working towards a long-term solution that is in the best interests of all Pennsylvanians.”