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NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB



TSXV:NYX.DB - Post by User

Post by JimTorontoon Jun 29, 2017 10:25pm
150 Views
Post# 26422576

Pa. lawmakers agree on $31.9 billion budget

Pa. lawmakers agree on $31.9 billion budgetWith a day left in the 2016-17 fiscal year, Governor Tom Wolf and leaders from both the House and Senate appear to have agreed upon a $31.9 billion spending plan for the upcoming state budget.

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The question then remains, how will the state pay for it?

Projected revenues did not come to fruition last year, and Pennsylvania is in the red around $1.5 billion. In an effort to make up the difference, House Republicans passed a historic gambling expansion bill, which would add video slot machines to establishments across the state, including airports, bars, taverns, and other special clubs.

Rep. Mark Mustio (R-Allegheny) told FOX43 earlier in the week the VGT-based gaming expansion could net $300 million in new, non-taxed revenue. However, the majority of Senators aren't keen on the idea of relying on so-called "sin taxes" to balance a budget. Many are, however, in favor of a limited gaming expansion, including internet-based casino games and online lottery games.

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Jennifer Kocher, a spokesperson for Senate Majority Leader Jake Corman (R-Centre) said as of Thursday afternoon, no revenue options had been taken off the table. 

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