Governor Wolf Releases Pennsylvania New Budget Proposals

Pennsylvania Governor, Tom Wolf announced his new budget proposals.  While ambitious, the proposals held few surprises to anyone who followed his campaign and recent news articles of the past few weeks.  Included in his proposals:

The revenue generated from the proposed severance tax would go towards funding various aspects of education and to the local communities impacted by the gas drilling.  Taxes collected from the increases in the personal income tax and the sales tax would be used to offset revenue losses from property tax reform and to provide tax relief for less-affluent Pennsylvanians.

The Governor acknowledged that he understood that some will not like all or part of his proposals, but asked those who disagree to put forth their own ideas.  The Governor closed his speech by saying that while Pennsylvanians did vote for divided government, they did not vote for gridlock.

Which begs the question: given how ambitious the Governor’s proposals are, how flexible will he be in dealing with a conservative legislature that prides itself on not raising taxes?  

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 [email protected].

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.

© 2022 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
Pennsylvania 2021-2022 Budget Expands the Educational Improvement Tax Credit Program
Ohio Update on the Unemployment Benefits Exclusion for Taxpayers Who Filed Prior to the Enactment of the American Rescue Plan Act
Ohio Sales Tax Holiday 2021
Florida Enacts Sales and Use Tax Economic Nexus
Nonresident Taxpayers May Be Eligible for Refunds of Ohio Tax for Gain on the Sale of a Business Interest
Is Your Association Required to File a Pennsylvania Decennial Report?
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

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.