Gittens Demands Detailed Plan for Use of $50 Million Before Approval; Bolques Urges Caution
Lawmakers demand transparency and fiscal strategy as Governor Bryan seeks an additional $50 million to ease the government’s cash crunch
2024-09-05 17:01:37 - VI News Staff
Some lawmakers are now casting doubt on their willingness to accommodate Governor Albert Bryan Jr.’s request to give the government more access to credit. Earlier this week, a press release from Government House and testimony from the government’s finance team made the case once again that easing the territory’s cash crunch would require more credit than what the government can currently access.
Governor Bryan wants an additional $50 million made available so that the administration can pay outstanding bills, remit promised payments to former employees, and take care of other pending obligations. Lawmakers on Tuesday were non-committal in the face of testimony by Finance Commissioner Kevin McCurdy, who told members of the Senate Committee on Budget, Appropriations and Finance that the line of credit would allow the government to “navigate a period of reduced revenue and stimulate economic growth.”