5. $220 million would be transferred from the state Tobacco Settlement monies in order to fund a portion of the Liberty Loan Fund. Up until March 1st adultBasic was partially funded by the Tobacco Settlement Fund, which under law is earmarked to go to health-related programs. AdultBasic could have been extended until July for $56 million.
4. During his budget testimony, campaign contributor and PA polluter-turned DCED Secretary C. Alan Walker and his staff hinted as to an additional $110 million to be transferred from the Tobacco Settlement Fund which the governor failed to mention in his budget address. This brings the total to $330 million in health-related dollars being diverted.
3. The governor wields the majority of control in appointing members under the initial plans for the Liberty Loan Fund board, which could limit bipartisan representation on the current Commonwealth Financing Authority.
2. The terms of each loan may be done through the regulatory process and not the legislative process, thereby eluding legislative oversight.
1. The Liberty Loan Fund amounts to a budgetary gimmick to create a WAM account for the governor to use to dole out money to his big business friends.