As budget-related revenue impasse continues, S&P downgrades Pennsylvania’s bond rating

As budget-related revenue impasse continues, S&P downgrades Pennsylvania’s bond rating

Standard and Poor’s announced on Wednesday morning that they are downgrading Pennsylvania’s bond rating amid the ongoing budget stalemate, the failure of lawmakers to fix Pennsylvania’s chronic structural imbalance, and weakening liquidity.

Wednesday, September 20, 2017/Author: Jason Gottesman
Categories: News and Views
Rep. Dan McNeill passes away

Rep. Dan McNeill passes away

House leaders confirmed on Friday that Rep. Dan McNeill (D-Lehigh) passed away at the age of 70.

Sunday, September 10, 2017/Author: Jason Gottesman
Categories: News and Views
Senate sets sea-change revenue proposal, budget implementation bills for final passage

Senate sets sea-change revenue proposal, budget implementation bills for final passage

The Pennsylvania Senate Wednesday night loaded bills that will provide for the substantial majority of a $2.2 billion revenue package needed to balance the current and just previously concluded fiscal year’s budgets and provide for the implementation of the budget through specific code bills.

 

About $570 million of the nearly $2 billion revenue package now set for a final vote in the Senate on Thursday represents a sea change in terms of where prior revenue discussions were heading since it does not rely mainly on gaming expansion, prior year lapses, and offline revenue transfers.

Thursday, July 27, 2017/Author: Jason Gottesman
Categories: News and Views
Senate to return to session to work on revenue, budget-related bills

Senate to return to session to work on revenue, budget-related bills

The Pennsylvania Senate announced Monday night that they will be returning to session Wednesday afternoon through Thursday to work on a $2.2 billion revenue plan and other budget-related bills in an attempt to move along the close-out of the FY 2016-2017 and FY 2017-2018 budgets.

Tuesday, July 25, 2017/Author: Jason Gottesman
Categories: News and Views
Budget revenue progress enters uncertain territory as House GOP balks at latest proposal

Budget revenue progress enters uncertain territory as House GOP balks at latest proposal

Work to balance the FY 2016-2017 and FY 2017-2018 spending plans entered uncertain territory Saturday after House Republicans—the majority in the Pennsylvania House of Representatives—failed to cobble enough votes to lift the latest revenue proposal crafted in large part by House Speaker Mike Turzai (R-Allegheny) and sent members home to once again remain on six-hour call.

Saturday, July 22, 2017/Author: Jason Gottesman
Categories: News and Views
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