Shapiro’s $5.6 Billion Deficit Threatens Pennsylvania Families with Massive Tax Hikes

Originally published by PennLive.

As we enter the final month before the June 30 state budget deadline, Pennsylvania remains on a collision course with its multibillion-dollar deficit. Gov. Josh Shapiro has yet to offer a serious plan to address this fiscal mess—and his actions have worsened it. Sadly, Pennsylvania families will pay for his recklessness.

According to the state’s Independent Fiscal Office (IFO), Pennsylvania faces a projected $5.6 billion structural deficit for the coming fiscal year. This eye-popping figure should alarm and anger all Pennsylvanians because they will have to bear the costs of the state’s unaffordable budget.

Left unchecked, this budget deficit will lead to statewide tax hikes.

“Our opinion is that a broad-based tax increase will be necessary because it will not be possible to cut spending enough to address that full deficit,” said IFO Executive Director Matthew Knittel. When calculated, the deficit equates to a tax hike of roughly $2,100 for a household of four.

Read more at PennLive.