Rather than being fiscally responsible and using one time money to retire debt, on a vote of 22-8 the Alabama Senate concurred on the much amended HB36, the BP money bill which passed the House on a 87-9 vote. I take this as affirmation that Republicanism in Montgomery is dead.
The bill monetizes the $850 million yet to be paid by BP over the next 16 years and uses the $640 million of expected proceeds as follows:
$400 million to repay part of the funds owed to the ATF, cancels the $95 million in the ATF payments previously scheduled during 2017-2019, and extends the repayment of the remaining $190 million seven years to 2033 with annual payments of about $13 million.
$120 million provided for Medicaid for 2017 and 2018, and $70 of ATF debt repayments for 2017-2019 are redirected to Medicaid
$120 million for roads in Mobile and Baldwin Counties
The House vote was 87-9. The NO votes were all GOP: Phil Williams, Barry Moore, Collins, Hammon, Henry, Ken Johnson, Jones, Hanes, Mooney
The Senate vote was 22-8 with 5 passing. Four GOP voted NO – Sanford, Orr, Whatley, McClendon
Five Senate GOP passed – Holtzclaw, Shelnutt, Ward, Holley, Melson … I am thinking they were taking a collective pee break in the executive latrine.
Senator Pro Tem Marsh says passing this bill will provide time for the legislature to focus on the next fiscal train wreck … just like borrowing $437 million from the Alabama Trust Fund did in 2012.
Fool me once, shame on you. Fool me twice, shame on me.
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