Pennsylvania Fiscal Office Expects Lower Revenues Than Governor

On Tuesday, at the first legislative hearing on Pennsylvania’s next budget, the Wolf administration and the Independent Fiscal Office (IFO) offered divergent near-term revenue projections.

Governor Tom Wolf (D) proposed a Fiscal Year 2022-23 budget last week that would total $43.7 billion, 16.6 percent greater than the current fiscal year’s spending allotment. The plan’s feasibility (without a tax increase) will partly depend on whether the general-fund revenues anticipated by the governor’s Revenue Secretary, C. Daniel Hassell, come to fruition. 

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