Pennsylvania Governor Calls for $3 Billion Bond for Pensions

Pennsylvania Governor Tom Wolf called for selling $3 billion of bonds to bolster the state’s public-employee retirement system as part of his first budget.

Wolf, a Democrat who took office in January, said Tuesday that Pennsylvania should also boost the profits of the state-run retail and wholesale liquor business, which provides $550 million a year in revenue. He said the extra funds could be used to help schools cut their pension payments and pay off the bonds, according to a budget briefing.