Senator Dan Laughlin (R-49) credited Senate Republicans’ conservative fiscal approach as the key to Pennsylvania’s current budget surplus and stressed the need for continued restraint on state spending.
Revenue Secretary Dan Hassell today (May 1) reported that Pennsylvania collected $4.4 billion in General Fund revenue in April, which was $464.7 million, or 11.8 percent, more than anticipated. Fiscal year-to-date General Fund collections total $29.2 billion, which is $828.2 million, or 2.9 percent, above estimate.
“We are in a much position than we have been for the past few years and it’s nice to have some good news to report for a change. We have gone from a $1.5 billion hole to about an $800 million surplus,” Senator Laughlin said. “That’s completely related to how well the economy is doing and I think we can all be thankful for that.
“Obviously, with our revenue numbers coming in stronger than projected, that’s a wonderful thing. But the fact that our (Senate Republican) caucus contained the line on spending over the past few years has helped put us in this position,” Senator Laughlin continued. “Even though we have a budget surplus right now, we need to look ahead and plan for harder economic times that, no doubt, will be on the horizon. So staying fiscally conservative is important at this time.”
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Contact: Matt Azeles mazeles@pasen.gov