Government

Senate President James Comments On Passage Of 2017 Budget Bill

Senators had two options, he said, either issue bonds to meet the budget shortfall or cut government spending. They went with the former. ST. CROIX -- Following a three-day legislative session that began on Tuesday, where lawmakers of the 31st Legislature passed a slew of measures to include funding the yearly operations of the local government, authorizing the use of borrowing through bond issuances, and allocating $100 Million to GERS to pay down a portion of the government’s obligation to government employees, Senate President Neville James today thanked the members of the Senate for their due diligence and hard work in coming together and spearheading measures that helped produce a balanced budget for fiscal year 2017. “It’s not an easy task to be told by financial experts that not only do you have to provide a way to bridge a shortfall of $110 million in the upcoming year, but you also have to address, the Government’s structural deficit of $170 million annually, in addition to so...