Credit Downgrade Due to Void of Leadership, Wagner says

HARRISBURG – Senator Scott Wagner (R-York) voiced his frustration for the latest credit downgrade by Standard & Poor’s (S&P).

Governor Wolf has the constitutional responsibility to put aside tax dollars into budgetary reserve funds, which he refused to do last year despite revenues coming in below expectations.

“This is the second time in three years the state has been hit with a credit downgrade, and my question is: where is the leadership to stop this ongoing trend?,” Wagner asked.

Wagner said tax increases should not be on the table. Instead, Wagner insists that the state should work on balancing its budget and align its spending with revenues, not the other way around.

“We’ve been down this path before – last year, Governor Wolf approved a plan to increase taxes by $650 million in order to stave off a credit downgrade, and here we are today with another downgrade. Pennsylvania’s credit rating is now one of the five worst states in the entire nation,” Wagner said.

“Where is Governor Wolf during this entire impasse, especially on a day like today?,” he asked.

According to Governor Wolf’s travel schedule, he is in northeastern Pennsylvania for publicity tours of various downtown communities.

“If today’s news is not a cause to be in the Capitol working with the legislature to find a solution that actually benefits taxpayers, I don’t know what is,” Wagner said. “But I will not be complicit in allowing the taxpayers to take one more hit through higher taxes.”