Pennsylvania lawmakers opted for a budget Friday that saves most of the state’s $10 billion in tax surplus and federal stimulus as they brace for an unprecedented fiscal cliff when the good fortune “dries up” come 2024.
The $40.8 billion spending plan socks away $2.5 billion in unexpected sales tax revenue into the state’s nearly depleted Rainy Day Fund and holds back two-thirds of the $7.3 billion in stimulus received from the American Rescue Plan for future deficits, leaving just enough for line item increases to public education, transportation projects and nursing homes, among other priorities.
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Already a member? Log in
