Pa. budget likely to come late, with money borrowed to fill gaps
The budget is due Friday, but lawmakers and Gov. Wolf still aren’t offering up any concrete details.
So far, we know there’s a $1.5 billion shortfall from this fiscal year that needs to be filled.
We know lawmakers are looking for roughly $700 million to $800 million on top of that to balance next year’s spending.
We know that most of the new money will come from a gambling expansion, and according to the governor, there’s a good chance the state will borrow against some future revenue to patch its shortfall. One candidate is a large tobacco settlement fund.
But specifics are scarce. House GOP spokesman Steven Miskin, for one, had little to tell reporters.