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Tuesday, July 14, 2009

PA House GOP Budget by the Numbers

The Pennsylvania House Republicans unveiled their state budget proposal Friday, to be added as an amendment if and when a budget bill is brought to the House floor. As we have done with the Senate and Rendell budgets, here is an overview of how it shapes up revenue and spending wise (the full line items are here). We'll add the House Democrat's version when they provide details.

2008-09 Spending
Total State Spending: $26.7 Billion:

  • Enacted Budget: $28.3 billion
  • Less "Freezes" (cuts to actual spending): $500 million
  • Less Federal Stimulus Money (Medicaid): $1.1 billion
Funds Available: $25.2 Billion:
  • Tax Revenue: $24.3 billion ($25.5 billion less $1.2 billion in refunds)
  • Beginning Balance: $585 million
  • Prior Year Lapses (money unspent in 2007-08): $158 million
  • Oil and Gas Lease Fund: $143 million
Deficit: $1.5 Billion, made up with
  • Rainy Day Fund Transfer: $300 million
  • Health Care Provider Retention Account Transfer: ~$300 million
  • Tobacco Endowment Account Transfer: est. $100 million
  • Other Small Fund Transfers: est. $250 million
  • Carried over: $550 million
2009-10 Budget

Total State Spending: $24.7 Billion
  • Appropriations: $27.3 billion
  • Less Federal Stimulus: $2.5 billion
Funds Available: $24.7 billion
  • Revenue: $25.3 billion
    • Zero-growth in tax collections: $24.3 billion ($25.5 billion less $1.2 billion in refunds)
    • Maintain Capital Stock & Franchise Tax at current year’s rate (1.89 Mills): $75 million
    • Redirect of Cigarette Tax from Health Care Provider Retention Account to General Fund): $190 million
    • Acceleration of Tax Payments as Proposed by Gov. Rendell: ~$450 million
    • Marcellus Shale Land Lease: ~$200 Million
    • Tax Amnesty Program: ~$100 Million
  • Unpaid 08-09 Deficit: $550 million owed

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