Gaming revenue, not taxes, pay for Consol bond payments

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Readers of a July 15 Post-Gazette article about additional state money used to cover bond payment shortfalls for the Consol Energy Center may have been incorrectly left with the impression that this funding came directly from taxpayer pockets. That is implied four different times in the article, including in the headline “Recession Leaves Taxpayers Paying Much More of Consol Energy Center Debt.”

Only later in the article is it correctly noted that the money being used for these bond payments is from the Pennsylvania Gaming Economic Development and Tourism Fund, which is completely funded from slot machine revenue and not by taxpayers.

This is an important distinction so that taxpayers know that they are not, to use a term from the article, ponying up this money.

Greg Fajt
Commissioner
PA Gaming Control Board
Mt. Lebanon

 


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