Tax and Budget

Issue Spotlight: 2015-16 Budget

Governor Tom Wolf proposed a $29.9 billion 2015-16 budget proposal on March 3. Here is the latest.

Budget Analysis: Proposed 2015-16 Plan to Increase School Funding With Sustainable Revenues

Mid-Year Review: A Review of the 2014-15 Budget Six Months into the Fiscal Year

Revenue Update: Revenues through March Higher than Estimate, but Show Impact of Corporate Tax Cuts

Enacted 2014-15 Budget Funding: General Fund Program Totals - Post Line-Item Vetoes

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General Fund revenue collections exceeded official revenue targets by just under $50 million in May. This pushes the fiscal-year-to-date revenue surplus to $619 million, or 2.3% above estimate. While revenues exceeding estimate are a good signal that the economy is doing better than expected, the 2014-15 surplus is unlikely to have the positive impact on the 2015-16 budget that one would normally expect.

 

(HARRISBURG, Pa.) June 10, 2015 – A diverse array of 41 major organizations, which serve or represent millions of Pennsylvanians, today called on state lawmakers to enact a fair and reasonable tax on the extraction of natural gas and use the revenue to reinvest in Pennsylvania’s public schools, promote economic development and clean energy, and strengthen oversight of the natural gas industry.

(HARRISBURG, PA)With state budget negotiations heating up in Harrisburg, for the first time new information-packed fact sheets are being released by the Pennsylvania Budget and Policy Center that reveal the real impact of Gov. Wolf's budget plan on taxpayers, homeowners, schoolchildren, minimum wage workers and other Pennsylvanians who would be affected by his proposals.

"Pennsylvania is now the second largest natural gas producer in the country," testified Research Director Michael Wood before a Senate Joint Committee,"and it is time to end the excuses and enact a real severance tax."  

This brief looks at the different ways property tax relief can be structured in Pennsylvania and why for lower- and middle-income homeowners, homestead relief provides more bang for the buck than millage rate cuts.

This is PBPC's press statement on the Independent Fiscal Office Initial 2015-16 Revenue Estimate and how it relates to efforts to increase education funding and fix the commonwealth's structural deficit.

April collections were higher than expected, pushing the state's revenue surplus in 2014-15 to over $500 million. This piece takes a closer look at what this means for next year's budget and the state's ongoing structural deficit.

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