Tuesday, February 05, 2008

PA Budget

Not sure what will happen to it as it sails through the legislative meatgrinder, but this sounds ok.

HARRISBURG - Gov. Rendell unveiled his $28.3 billion 2008-09 state budget proposal before a joint session of the legislature today, calling it a "tight" document but one intended to continue Pennsylvania's economic growth even as the nation appears headed toward a recession.


The cornerstone of the governor's spending plans is a call to issue within eight weeks rebates of up to $400 to low-income Pennsylvanians. Those rebates, he said, would be used by 475,000 families to meet monthly bills, keeping them from growing deeper in debt while also stimulating the economy.


Rendell's stimulus plan seeks to create jobs by directing $270 million to replace and repair the state's crumbling bridges, airports and dams.

He's also pushing for a 10 cent/pack cigarette increase to fund an affordable insurance program which I don't know much about.

Pennsylvania is generally fairly acyclical, not really booming or busting with the rest of the economy. Other states will likely have a lot of revenue problems if this does indeed trend towards a recession.