New Castle worries about Act 47 plan

New Castle worries about Act 47 plan

NEW CASTLE, Pa. — With New Castle firmly ensconced in Pennsylvania’s program for financial recovery — called Act 47 — John Altman still worries.

“Being under Act 47 doesn’t prohibit bankruptcy,” said Altman.

Altman was one of the citizen leaders who circulated petitions to get the city into the financial recovery program, which brings the commonwealth in to oversee the city’s finances. Without that help, the city was expected to run out of money sometime in October.

Two weeks ago, after some hesitation and delay, city officials did approve a plan for recovery created by the appointed state coordinators, but Altman worries it won’t come fast enough.

The plan calls for hefty increases in property and wage taxes collected by the city, as well as increases in fees for garbage bags and other services provided by the city.

For the complete story, see Sunday’s Vindicator and Vindy.com.