Lawmaker floats proposal to lower state’s personal income tax rate

Lawmaker floats proposal to lower state’s personal income tax rate

Hoping to boost the rate of Pennsylvania’s economic growth, Rep. Jason Ortitay (R-Washington) recently floated a proposal to lower the commonwealth’s personal income tax (PIT) rate from 3.07 percent to 2.82 percent.

 

The proposal comes on the heels of recently enacted federal tax reform that sought to cut taxes for the majority of Americans and spur economic growth, but was also projected to grow the national deficit.

Monday, January 8, 2018/Author: Jason Gottesman
Categories: News and Views
State collects $2.8 billion in December General Fund revenues

State collects $2.8 billion in December General Fund revenues

The Pennsylvania Department of Revenue and the Independent Fiscal Office each reported this week that state General Fund revenue collections for the month of December rang in at around $2.8 billion.

 

However, that’s where it appears agreement stops between two of the Commonwealth’s top fiscal forecasters.

Wednesday, January 3, 2018/Author: Jason Gottesman
Categories: News and Views
House Republican cadre forms “Common Sense Caucus”

House Republican cadre forms “Common Sense Caucus”

An ad-hoc group of 18 House Republican members recently announced they will be forming the “Common Sense Caucus,” a group of like-minded legislators aimed at bringing more accountability and transparency to the Commonwealth’s fiscal issues.

 

The group is formed largely of the team of rank-and-file House Republican members that were pushing for the use of special fund transfers to fund the current fiscal year’s budget, a component of which was incorporated into the revenue plan ultimately adopted.

Monday, December 18, 2017/Author: Jason Gottesman
Categories: News and Views
Mid-year budget briefing: Wolf administration projects year-end surplus

Mid-year budget briefing: Wolf administration projects year-end surplus

Wolf administration Budget Sec. Randy Albright delivered the mid-year budget briefing Thursday, where he projected a year-end surplus potentially as high as $31.2 million on top of a $10 million transfer to the Commonwealth’s Rainy Day Fund.

Thursday, December 14, 2017/Author: Jason Gottesman
Categories: News and Views
Legislative package aimed at reforming state budget process clears House committee

Legislative package aimed at reforming state budget process clears House committee

A six-bill legislative package that seeks to reform the state budgeting process made its way out of the House Appropriations Committee Tuesday afternoon along a party-line vote.

Tuesday, December 5, 2017/Author: Jason Gottesman
Categories: News and Views
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