Pennsylvania State Treasurer Rob McCord is signing off on a taxpayer-financed bond issue this month, although at a lower amount than the $1 billion initially sought outgoing Gov. Ed Rendell. The Treasurer says he will approve a bond issue of $650 million.
Rendell's chief of staff Steve Crawford says Rendell can live with the compromise and that Gov.-elect Tom Corbett will need to issue more bonds in the spring.
McCord spoke to reporters today including DUQ's Scott Detrow.
Rendell says the $1 billion bond issue is crucial to keep money flowing to public improvement projects that are under contract or construction, such as bridges, prisons and hospitals, while interest rates are favorable.
More details will be available later today.