State Budget
The Rainy Day Fund
Summary The Budget Stabilization Reserve Fund, commonly referred to as the Rainy Day Fund, is Pennsylvania’s largest budgetary reserve fund. Pennsylvania law dictates that lawmakers may only draw from the…
Fact Sheet
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Pennsylvania’s Looming Budget Challenges
Summary Pennsylvania’s fiscal year (FY) 2024–25 state budget has created a $3.6 billion structural budget deficit. Without a major shift in direction, this deficit will persist and grow in future…
Fact Sheet
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Governor’s Proposed Budget Would Balloon Deficit to More Than $6 BILLION
Harrisburg, Pa., February 28, 2024 — Gov. Josh Shapiro’s proposed $48.3 billion budget would expand Pennsylvania’s structural deficit to more than $6 billion by 2028 and lead to major tax increases,…
Press Release
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State Law, Financial Experts, and the Governor Himself Condemn Budget Plan to Raid Rainy Day Fund
Harrisburg, Pa., February 19, 2024 — Pennsylvania significantly improved its fiscal standing over the last few years by making deposits into the Rainy Day Fund. Pennsylvania has gone from among the…
Press Release
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Key Takeaways from Governor’s 2024 Budget Proposal
Key Points Gov. Josh Shapiro’s startling spending increases and myriad of new initiatives would explode the budget deficit and invite massive tax hikes on working families in the coming years.
Backgrounder
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Takeaways from the (Mostly) Finalized 2023–24 Pennsylvania State Budget
Overview With the passage of Fiscal Code and School Code bills in December, work on the 2023–24 Pennsylvania state budget ended mostly done, six months late. The budget is as…
Fact Sheet
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TEL-Tale Heart: Crafting Effective Policies to Reduce Spending
Executive Summary Increases in state spending do not result in greater prosperity for state residents, across an array of measures. In fact, increased state spending can reduce economic growth. Reducing…
Report
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School Choice Expands in Pennsylvania Budget
June 25, 2021, Harrisburg, Pa. — Lawmakers today unveiled a deal on the next fiscal year’s state budget, which the governor is expected to sign. The budget includes an increase in the cap…
Press Release
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Balancing the State Budget Didn’t Have to Be This Hard
If lawmakers had enacted the Taxpayer Protection Act in 2018, they would face a $770 million gap between revenues and spending. Going one step further, if lawmakers had enacted the…
Commentary
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