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Pennsylvania Budget Updates

PENNSYLVANIA UNCERTAINTY CONTINUES (Update)
 
Legislature goes on recess leaving funding questions for budget unresolved.
 
On Monday another day passed with the question of how Pennsylvania is to fund its $1.3 billion budget deficit still unresolved as the Legislature went into recess and Gov. Tom Wolf continued to perpetuate the unusual situation of an unsigned yet unvetoed budget facing a midnight Tuesday deadline, when it is set to lapse into law without a funding package.
 
The governor claims that it is the Legislatures responsibility to back the budget bill with a sustainable funding bill.
 
The crisis has resulted in the possibility of legal challenges and a downgrade to the states credit rating as the political debate continues.
 
Bi-partisan negotiators still working on the funding proposals told local media that the next 24-hours would be critical. The proposals’ main stalling points appear to be taxation on tobacco and cigarettes and the expanded online and slots gambling provisions, with which the House is happy but the Senate remains opposed.
 
"The next 24 hours will tell the tale of whether we are going to have an agreement or whether all sides retreat back to their own corners," House Republican Majority Leader Dave Reed said after an hours-long meeting with Wolf and legislative leaders Monday.
 
Neither Reed nor other leaders would discuss what progress, if any, negotiators have made.
 
Gov. Wolfs decision to neither sign nor veto the bill raises unprecedented questions, as the state constitution demands a balanced annual budget. There is also the threat of a downgraded credit rating for the state, a possibility flagged by rating agency S&P following Mondays lack of progress.
 
Some of observers have pointed to a 1932 Pennsylvania Supreme Court decision as being relevant. In that issue, the court directed the state to plug a deficit by evenly cutting spending across all agencies until the expenses matched available revenues. Legally mandated expenses would be exempted from cuts in such an order.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

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NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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