S&P downgrades PA credit outlook as revenue deal continues to evade legislative leaders

S&P downgrades PA credit outlook as revenue deal continues to evade legislative leaders

Much like the death of Mark Twain, it appears rumors of legislative leaders being close to a deal on a revenue package to close out FY 2016-2017 and balance FY 2017-2018 are greatly exaggerated.

 

After another quiet day in the Capitol Thursday that saw some rank-and-file members begin to return to the Capitol in advance of Friday’s planned House session day, it appears as though lawmakers are still nowhere near a global agreement that will bring about $2.2 billion to balance the Commonwealth’s books.

Thursday, July 6, 2017/Author: Jason Gottesman
Categories: News and Views
Legislature sends Gov. Wolf $31.99 billion spending plan as revenue discussions heat up

Legislature sends Gov. Wolf $31.99 billion spending plan as revenue discussions heat up

After a day of debate in the Pennsylvania General Assembly, legislators in both chambers voted to send a $31.99 billion FY 2017-2018 spending plan to Gov. Tom Wolf on Friday.

Friday, June 30, 2017/Author: Jason Gottesman
Categories: News and Views
Legislators poised to send Gov. Wolf $31.9 billion spending plan with revenue to follow at some point

Legislators poised to send Gov. Wolf $31.9 billion spending plan with revenue to follow at some point

After a late-night vote in the Senate Appropriations Committee Thursday, members of the General Assembly could send Gov. Tom Wolf a $31.99 billion FY 2017-2018 budget as soon as Friday.

 

That being said, a lot remains up in the air—including how they plan on paying for the spend number.

Thursday, June 29, 2017/Author: Jason Gottesman
Categories: News and Views
With three days before the PA budget deadline a universal agreement remains elusive

With three days before the PA budget deadline a universal agreement remains elusive

There’s just three session days remaining before the clock turns over to a new fiscal year and lawmakers are still without a universal agreement on a spending plan or a revenue package to close out the current fiscal year and balance the coming year’s budget.

Tuesday, June 27, 2017/Author: Jason Gottesman
Categories: News and Views
Legislative leaders report little substantial movement on reaching a PA budget deal

Legislative leaders report little substantial movement on reaching a PA budget deal

Returning from four days away from the state Capitol, and with just a handful of voting session days scheduled before the traditional June 30 budget deadline, legislative leaders returned to Harrisburg Monday reporting little progress on getting a consensus on a spending and revenue plan that will close out FY 2016-2017 and provide for FY 2017-2018.

 

While those responsible for crafting the fiscal plan promised to talk over the four days where members were away from Harrisburg, it appears those meetings—if they occurred at all—proved to move the ball forward only inches (or less) on getting a deal on the main points of a spending plan.

Monday, June 26, 2017/Author: Jason Gottesman
Categories: News and Views
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