Amid deficit projections, fiscal conservatives warn of looming budgetary crisis

Amid deficit projections, fiscal conservatives warn of looming budgetary crisis

Some of Pennsylvania’s most ardent fiscal conservatives are pressing colleagues in the General Assembly to correct the state’s financial course before the impacts hit everyday Pennsylvanians. 

Representatives Frank Ryan (R-Lebanon) and Seth Grove (R-York) are looking to instill a sense of urgency among state lawmakers as they spearhead a series of bills that aim to learn from the fiscal pitfalls experienced in other states — and enact reforms to avoid them. 
Tuesday, December 3, 2019/Author: Justin Sweitzer
Categories: News and Views
IFO: General Fund structural deficits to continue over next five years

IFO: General Fund structural deficits to continue over next five years

The state’s independent economic forecasters are predicting General Fund deficits over the next five years, even while job and wage growth are both expected to increase in the short term. 

Matthew Knittel, the executive director of the state’s Independent Fiscal Office, said on Thursday that the state’s projected revenues are expected to increase along with expenditures, continuing a structural imbalance through Fiscal Year 2024-25.
Thursday, November 14, 2019/Author: Justin Sweitzer
Categories: News and Views
Policy Committee considers student debt reform

Policy Committee considers student debt reform

Legislators, officials, and citizens gathered at a hearing of the House Democratic Policy Committee at Cabrini University Wednesday to discuss the growing problem of student debt in Pennsylvania, along with some ways the General Assembly can ease the burden.
 
Currently 1.7 million Pennsylvanians owe over $67 billion in student debt, according to the Student Borrower Protection Center. Of those amounts, $7.2 billion held by over 230,000 borrowers is delinquent. 
Wednesday, October 16, 2019/Author: Marco Cerino
Categories: News and Views
County Executive Rich Fitzgerald proposes 2020 budget to Allegheny County Council

County Executive Rich Fitzgerald proposes 2020 budget to Allegheny County Council

County Executive Rich Fitzgerald proposed his eighth budget and 2020 Comprehensive Plan Fiscal Plan to Allegheny County Council in their Tuesday meeting.

Fitzgerald presented a $959.8 million budget; a $27 million increase from the previous year. According to Fitzgerald the current budget is the 18th time in 19 years that the annual capital and operating budget balanced without any increase in the property tax millage rate.
Wednesday, October 9, 2019/Author: Atiya Irvin-Mitchell
House Transportation considers looming funding shortfall

House Transportation considers looming funding shortfall

The House Transportation Committee met Friday in Philadelphia to confront one of the major looming problems in the state’s future: the sunset on $400 million in annual funding that the Pennsylvania Turnpike provides to public transportation.
 
Act 89 of 2013 established the PA Turnpike Commission allocate $450 million annually to public transit and multimodal funding. Those payments will shrink to $50 million as of 2022. 
Friday, September 13, 2019/Author: Marco Cerino
Categories: News and Views
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