Pennsylvania Gov. Tom Wolf’s proposed 2017-18 budget contains no broad-based tax increases, but does include some important tax changes for the state’s businesses.
The $32.3 billion spending plan – which the Governor unveiled Feb. 7 to a joint session of the Pennsylvania General Assembly – includes about $1 billion in new, recurring revenues.
Overall spending increases by $670 million, or 2.1 percent, above the current 2016-2017 budget. The proposal includes increase spending for public education, special education, early childhood education, and higher education, but it also identifies a number of opportunities for cost savings and spending reductions of over $2 billion that appear to have bipartisan support.