2019-2020 Pennsylvania Budget

Governor Tom Wolf and the Pennsylvania legislature finalized the state budget before the beginning of the new fiscal year on July 1, 2019.  The budget does not include any tax increases or new taxes.

Governor Wolf had pressed for a severance tax in his February budget proposal, but was unable to secure the tax with Republicans controlling the House and Senate. Raising the state minimum wage to $12 an hour and tethering it to inflation was a proposal Wolf supported even before he took office, but this amendment was also denied and did not make it into the final bill.

The budget does include significant increases in spending for education and healthcare services.  Funding for the popular Educational Improvement Tax Credits did increase by $25 million after the Governor vetoed efforts to increase it by $100 million in June.

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2019 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on

PA DOR Will Apply $500,000 Economic Nexus Rule for Corporation Income Tax Filings in 2020
PA DOR Will Apply $500,000 Economic Nexus Rule for Corporation Income Tax Filings in 2020
Automobile, Tax BY Steven Barber
Clarification on 100% Bonus Depreciation for Dealership Owners
Is Your Construction Company Eligible for R&D Tax Credits?
IRS Releases Advance Payment Proposed Regulations for Accrual Method Taxpayers, Providing One-Year Deferral
Advance Payments: Potential for Longer Term Deferral under Newly Issued Regulations, Repeal of Regulation §1.451-5

Register to receive our weekly newsletter with our most recent columns and insights.

Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us

contact us

Map of Pittsburgh Office
Pittsburgh

One PPG Place, Suite 1700
Pittsburgh, PA 15222

contactsd@schneiderdowns.com
p:412.261.3644     f:412.261.4876

Map of Columbus Office
Columbus

65 East State Street, Suite 2000
Columbus, OH 43215

contactsd@schneiderdowns.com
p:614.621.4060     f:614.621.4062

Map of Washington Office
Washington, D.C.

1660 International Drive, Suite 600
McLean, VA 22102