Bond scrapped from budget - KUAM.com-KUAM News: On Air. Online. On Demand.

Bond scrapped from budget

Posted: Updated:

by Sabrina Salas Matanane

Guam - This morning's Legislative Session was recessed to give time to the Calvo Administration's financial team and Senators to review the revised budget bill. When the Administration submitted the original budget or Bill 145 it was a biennial budget and contained a provision to borrow more close to $300 million to pay past due tax refunds by Christmas. The substituted version by the Committee on Appropriations nixed both those suggestions leaving out the loan and now focuses on a single year budget for fiscal year 2012. 

Reacting to the removal of the bond proposal Governor Eddie Calvo released the following statement. "Originally, the cuts we will be making were to fix the problem of government being too expensive year to year than the cash coming in. Our cost cutting program was to fix the problem moving forward. It would not have addressed the $280 million the government already owes to taxpayers in refunds thanks to years of bloated budgets. That was what the bond was for. He added, "If the bond is not passed, I will have no choice but to cut even deeper, because people are struggling and suffering and begging for their own money.

It is not right to withhold this money from them any longer. If some senators are unwilling to do what is right, I assure them, I will take whatever action is necessary to pay the tax refunds."  Lawmakers are currently in recess but will resume discussion at 2 o'clock.

  • NEWS HEADLINESMore>>

  • Molestation charges against Glenn Santos, 47

    Molestation charges against Glenn Santos, 47

    A 47 year old man is accused of sexually molesting a 15 year old girl known to him.  Glenn Siguenza Santos is charged with first degree criminal sexual conduct.  Court documents state, the victim woke up to find her pants and underwear had been removed. The suspect is then accused of digitally penetrating the teen. He was later arrested after a complaint was filed with police.More >>
    A 47 year old man is accused of sexually molesting a 15 year old girl known to him.  Glenn Siguenza Santos is charged with first degree criminal sexual conduct.  Court documents state, the victim woke up to find her pants and underwear had been removed. The suspect is then accused of digitally penetrating the teen. He was later arrested after a complaint was filed with police.More >>
  • Senators Override Bills Vetoed by the Governor

    Senators Override Bills Vetoed by the Governor

    Senators moved and voted on a number of measures during day one of session talks. Two of which include bills vetoed by Governor Calvo last year. That includes bill 23, introduced by Speaker BJ Cruz, which would ensure that only the most economical and beneficial health insurance proposal plan for GovGuam employees, retirees, and foster children is forwarded to the government's health insurance negotiating team for the governor's consideration. “With the government of Guam on th...More >>
    Senators moved and voted on a number of measures during day one of session talks. Two of which include bills vetoed by Governor Calvo last year. That includes bill 23, introduced by Speaker BJ Cruz, which would ensure that only the most economical and beneficial health insurance proposal plan for GovGuam employees, retirees, and foster children is forwarded to the government's health insurance negotiating team for the governor's consideration. “With the government of Guam on th...More >>
  • Workforce delegation on island

    Workforce delegation on island

    A congressional delegation is on Guam reviewing the workforce challenges and the defense readiness for the territory and the region. Congresswoman Madeleine Z. Bordallo today met with the CODEL led by Virginia Rep. Bob Goodlatte, Chairman of the House Judiciary Committee. The delegation also included Representatives Blake Farenhold of Texas, Ted Yoho of Florida, Jason Smith of Michigan, Hank Johnson of Georgia, Luis Gutierrez of Illinois, and Pramila Jayapal of Washington.  The ...More >>
    A congressional delegation is on Guam reviewing the workforce challenges and the defense readiness for the territory and the region. Congresswoman Madeleine Z. Bordallo today met with the CODEL led by Virginia Rep. Bob Goodlatte, Chairman of the House Judiciary Committee. The delegation also included Representatives Blake Farenhold of Texas, Ted Yoho of Florida, Jason Smith of Michigan, Hank Johnson of Georgia, Luis Gutierrez of Illinois, and Pramila Jayapal of Washington.  The ...More >>
Powered by Frankly