Hoping to meet a scheduled May 31 adjournment deadline, negotiations continued during the week on a state budget and capital improvement plan for Fiscal Year 2009, which starts July 1. On May 29, the Senate’s Democrat leadership forced through a bill that authorizes a $16 billion pension borrowing scheme that pushes the bulk of the debt off on taxpayers 30 years down the road.
Approved by a strictly partisan vote of 37-21, Senate Bill 788 also changes the pension funding formula to allow the Governor to skip a $500 million pension payment in Fiscal Year 2009 and use the diverted pension payment for other programs." /> Skip to Main Content
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