State budget vehicle continues advance

State budget vehicle continues advance

With little fanfare Monday afternoon the vehicle for the eventual state General Fund budget continued its advance through the legislative process, receiving second consideration in the House without amendment.

 

The bill—House Bill 218—sets state spending at FY 2015-2016 spending levels with total state appropriations ringing in at just over $33 billion.

 

The $29.45 billion General Fund spend number is far below the $32.3 billion General Fund spend number proposed by Gov. Tom Wolf in his February 7 budget address.

Monday, March 20, 2017/Author: Jason Gottesman
Categories: News and Views

What happens when the Commonwealth runs out of money?

At his mid-year budget briefing earlier in December, Budget Sec. Charles Zogby noted tax anticipation notes—borrowing based upon the anticipation of greater tax revenue later in the year—might be used to fill slower revenue months.

However, not all state officials seemed convinced that the prospect of additional borrowing is necessarily the right thing to do, especially since the Commonwealth has already borrowed money to ensure the state’s bills are paid.

Tuesday, December 16, 2014/Author: Jason Gottesman
Categories: News and Views
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