Believe it or not: there’s still no revenue agreement

Believe it or not: there’s still no revenue agreement

Another day ticked down to when Gov. Tom Wolf must make a decision regarding an unbalanced budget and state legislative leaders were still far apart Friday on getting to a global agreement on a revenue package of more than $2 billion to close out the FY 2016-2017 fiscal year and bring in to balance the current year’s spending plan, which is currently before the governor.

 

Speaking to reporters after a Friday House voting session that saw members vote on housekeeping measures, House Majority Leader Dave Reed (R-Indiana) reiterated a message he sent to his fellow House Republicans on Thursday: there is no revenue deal.

Friday, July 7, 2017/Author: Jason Gottesman
Categories: News and Views
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
Revenue discussions continue as lawmakers work to meet Monday deadline

Revenue discussions continue as lawmakers work to meet Monday deadline

With June 30th coming and going, so goes another month of revenues and the close of the FY 2016-2017 budget year; however, unlike previous months, June’s revenue did come in slightly over estimate.

 

According to figures reported by the Pennsylvania Department of Revenue, the Commonwealth’s General Fund revenues for the month of June came in just more than $11 million over estimate. While major revenue generators like the personal income and sales and use tax were down, the corporate net income tax and inheritance tax outpaced estimates to put the Commonwealth in the black for the month of June.

Wednesday, July 5, 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
RSS
First45678910111213Last