HARRISBURG - Pennsylvania's House of Representatives has sent to the governor a bill that would allow up to $4.5 billion in borrowing to pay off an unemployment compensation debt that businesses owe to the federal government.
The bill, which Gov. Tom Corbett is expected to sign, was approved Wednesday, 129-67.
It authorizes one of the largest single-debt issuances in Pennsylvania history, but proponents said the interest on the bonds will save as much as $200 million compared to the federal loan's cost.
Some Democrats criticized a provision designed to save $276 million a year by barring jobless benefits for nearly 50,000 people who earn more than half of their annual income within a few months. Minority Leader Frank Dermody said it's wrong to solve the problem on the backs of those workers.