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Rep. Jim Struzzi: governor’s $53.26 billion plan outpaces likely revenues and would draw down rainy day fund
Summary
State Rep. Jim Struzzi, Republican Appropriations Committee chair, told Behind the Headlines that Governor Shapiro’s $53.26 billion budget proposal exceeds projected revenues by roughly $6.4 billion, would draw down the budget stabilization (rainy day) fund and relies on new revenues that Struzzi called uncertain.
Rep. Jim Struzzi (R), chair of the House Appropriations Committee, said the budget proposed by Gov. Josh Shapiro would spend about $53,260,000,000 while Pennsylvania’s expected revenues are roughly $47,000,000,000, creating an estimated $6,400,000,000 gap.
Struzzi told hosts Charlie Greenewalt and Mara Ganley on Behind the Headlines that the administration’s plan would tap the budget stabilization fund (commonly known as the rainy day fund), reducing reserves that he said were intended for economic emergencies. "When the governor took office...he basically inherited a $13,000,000,000 surplus," Struzzi said, and "every year his spending has exceeded revenues" such that the reserve has been drawn down.
Why it matters: Struzzi…
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