Gov. Wolf on new House GOP budget-balancing proposal: “I feel it’s a bad idea. It’s nonsense.”

Gov. Wolf on new House GOP budget-balancing proposal: “I feel it’s a bad idea. It’s nonsense.”

In some of the strongest words used by Pennsylvania’s chief executive in the ongoing budget impasse, Gov. Tom Wolf on Wednesday lambasted a new plan by House Republican members to balance the state’s books by using special fund transfers and other one-time sources of revenue rather than seeking revenue in the form of higher taxes and other recurring revenue sources.

Wednesday, September 6, 2017/Author: Jason Gottesman
Categories: News and Views
House GOP coalition unveils “The Taxpayers’ Budget”

House GOP coalition unveils “The Taxpayers’ Budget”

Six weeks of work by a cadre of 18 rank-and-file House Republicans—self-entitled the “budget hawks”—was brought to fruition Tuesday as the group unveiled their long-anticipated budget plan that balances last year’s books and the $31.99 billion spending plan passed in June by utilizing special fund transfers, closing tax loopholes, moving around excess funds, and other funding maneuvers to avoid a tax increase and borrowing from the state’s Tobacco Settlement Fund.

Tuesday, September 5, 2017/Author: Jason Gottesman
Categories: News and Views
PA collects $2.1 billion in August revenue

PA collects $2.1 billion in August revenue

Friday, the Department of Revenue reported August’s revenue figures, noting the Commonwealth collected $2.1 billion for the month, bringing fiscal-year-to-date collections up to a total of $4.2 billion 

Tuesday, September 5, 2017/Author: Jason Gottesman
Categories: News and Views
Can the budget deficit be solved with cuts alone?

Can the budget deficit be solved with cuts alone?

As legislators in the state House of Representatives have been spending the last month or so mulling over how to close the $2.3 billion deficit facing the current status of the state budget, most of the proposals in that chamber have focused on ways to avoid or at least lessen the potential prospect of broad-based tax increases.

 

While a group of self-titled “budget hawks” have been working on a solution that transfers money from non-General Fund pools of money into the Commonwealth’s main checking account as a way to solve the issue, others have not hidden the fact that they’d like to cut their way out of the problem to close the deficit from the last fiscal year and align the current budget with estimated state revenues for this fiscal year—currently sitting around $31.19 billion.

Thursday, August 31, 2017/Author: Jason Gottesman
Categories: News and Views
As revenue projections hold, IFO sees continued weakness in sales tax growth

As revenue projections hold, IFO sees continued weakness in sales tax growth

Appearing before the House State Government Committee Wednesday to brief members on their current and legislatively proposed job functions, the Independent Fiscal Office reported that while their current year revenue projections are holding firm, there is continued weakness in sales tax growth that is ultimately adding to undermined General Fund revenue collections.

Wednesday, August 30, 2017/Author: Jason Gottesman
Categories: News and Views
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