The Independent Fiscal Office of Pennsylvania claims the Governor’s proposed budget would only slightly reduce the deficit while growing expenses.
According to the fiscal office, Governor Josh Shapiro’s proposed budget would reduce the deficit by $652 million (10 percent) and $1.71 billion in 2028-29, but the Commonwealth would still be facing increasing deficits year over year.
The analysis projects that by 2031, the expenditures would grow to $60 billion with revenue only at $51 billion; a deficit over $8 billion.
This also accounts for projected legalization of marijuana, increased tax revenue from minimum wage increases, and new tax credit/programs for various industries.