Today is the last day of the state’s fiscal year, and there is no word yet if Governor Tom Wolf has signed the state spending plan for next year.
The budget passed the State House and Senate last Friday, and did not contain any personal or business tax increases. The budget was praised by Wolf and by others for increasing spending in education. The plan includes a record $13.55 billion investment in pre-K to 12th grade education. A $300 million increase in basic education across the state is part of that.
The other point that has been highly touted is the $2.52 billion deposit into the state’s rainy day funds from the reserves from last year’s budget. The balance of that account would stand at $2.76 billion, which reports say is the national average that all states have saved for emergencies.
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