Over the next two weeks, the House and Senate Appropriations Committees will continue holding budget hearings on the proposed FY 2013-14 spending plan Governor Tom Corbett unveiled on February 5.
Here’s to trusting that when the hearings end on March 7, lawmakers conclude, as we have, that there’s a lot to like in the plan.
The Corbett budget not only restrains spending for the third year in a row, but it boosts economic development and public education efforts without raising taxes. The budget contains a transportation funding plan we desperately need to help spur economic recovery and move people and goods safely and efficiently. He’s also investing heavily in public education by adding a billion more dollars through the privatization of the state liquor system. Be mindful, more state education dollars were spent in the Governor’s previous two budgets than ever before in the history of the Commonwealth. On another front, he’s proposing a solution to a public pension crisis that, if not confronted now, could break future budgets and force certain and sizeable tax increases.
"Governor Corbett has again delivered a plan that keeps state government from overreaching its responsibilities," said David N. Taylor, Executive Director of the Pennsylvania Manufacturers’ Association. "Keeping government focused on core functions is a prerequisite for our economy to flourish."
Click on each heading to read more detailed information on each subject:
Restraint in Spending
The Governor’s budget builds on his first two spending plans that combined to erase a $4.2 billion deficit caused by the recession… Read more
Our roads and bridges are not only costing us millions in delays and vehicle repairs but they are dangerous as well… Read more
Remarkably some have characterized the Medicaid expansion under the federal Affordable Care Act (ACA) as "free" for Pennsylvania… Read more
Only two states, Pennsylvania and New Hampshire, cap the net operating losses (NOL) business can carry over against their Corporate Net Income (CNI) taxes… Read more
The unfunded liability for state employees and teacher pensions is $41 billion, and if something isn’t done soon we are on the hook for it… Read more
When he first took office, Governor Corbett walked into a public education funding gap. For over two years Pennsylvania’s school districts… Read more
Overall, this budget proposal is promising. Because of fiscal restraint in previous years, essential government programs can become more fully funded and restored. Several obstacles such as pension insolvency and solutions to our transportation infrastructure funding woes loom, but Governor Corbett has taken the lead in tackling these tough issues. It will now be up to the legislature to improve upon these plans before June 30, 2013.
News Around the State
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