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Charlotte Amalie
Friday, August 19, 2022
HomeNewsArchivesTURNBULL, SENATORS AGREE TO BORROWING PLAN

TURNBULL, SENATORS AGREE TO BORROWING PLAN

Government employees are likely to be paid earlier than originally expected as a result of an agreement reached Wednesday night between Gov. Charles W. Turnbull and 14 members of the Legislature.
With a special session of the Legislature set for Thursday morning, the governor and senators came to an agreement that would allow the governor to borrow money from accounts within the government's own treasury to meet the current payroll.
At Thursday's special session, scheduled to begin at 10 a.m., the governor is expected
to present a bill "to authorize emergency borrowing to meet the government's
obligations; to establish a tax amnesty program; to clarify the se-aside for income tax refunds; to provide an appropriation for repayment and matching of community disaster loans; and for other related purposes," as
set forth in an April 6 letter from Turnbull to Senate President Vargrave Richards.
Included in the proposed bill is a request to allow the government to borrow up to $35 million to cover financial obligations through Sept. 30, the end of the fiscal year.
All of the senators met with Turnbull Wednesday night except Sen. Adlah "Foncie" Donastorg, who is reportedly off-island.

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Government employees are likely to be paid earlier than originally expected as a result of an agreement reached Wednesday night between Gov. Charles W. Turnbull and 14 members of the Legislature.
With a special session of the Legislature set for Thursday morning, the governor and senators came to an agreement that would allow the governor to borrow money from accounts within the government's own treasury to meet the current payroll.
At Thursday's special session, scheduled to begin at 10 a.m., the governor is expected
to present a bill "to authorize emergency borrowing to meet the government's
obligations; to establish a tax amnesty program; to clarify the se-aside for income tax refunds; to provide an appropriation for repayment and matching of community disaster loans; and for other related purposes," as
set forth in an April 6 letter from Turnbull to Senate President Vargrave Richards.
Included in the proposed bill is a request to allow the government to borrow up to $35 million to cover financial obligations through Sept. 30, the end of the fiscal year.
All of the senators met with Turnbull Wednesday night except Sen. Adlah "Foncie" Donastorg, who is reportedly off-island.