Government

VI Noosed To Bondholders As Senators Pass $247 Million Debt Financing Bill

ST. THOMAS -- During an hourslong Senate session that was held at the Alexander Farrelly Justice Complex in the Superior Court on Thursday afternoon, two senators broke ranks and voted against the $247 million working capital bill that was vetoed by Governor Kenneth Mapp and resent to the Senate demanding changes, with the governor deriding the measure as "fatally flawed," and seeming to take no blame for the defective measure. The bill passed with flying colors, with 13 senators voting in the affirmative. Its passage will avert a government shutdown, make available some $15 million in tax refunds, as well as provide much needed aid to the territory's hospitals; funding for the Waste Management Authority, and fulfill some obligations of the fiscal year 2017 budget. The bill also provides $100 million to the Government Employees' Retirement System, through an amendment sponsored by Senator Tregenza Roach, fulfilling at least part of the government's unfunded liability. Bu...