Update: The Commonwealth of Pennsylvania's 2017 Finance Bill Has Still Not Been Approved

The Commonwealth’s $32 billion 2017 budget was allowed to become law by the liberal Democratic Governor of Pennsylvania, without his signature, after the Republican-led legislature approved it in late June. 

As I posted at the time, no finance bill was passed for the fiscal year.  See Pennsylvania’s 2017 Budget is Approved, from July of this year, http://williamcinfici.blogspot.com/2017/07/pennsylvanias-2017-budget-is-approved.html.  There is still no bill approved to fund the Commonwealth’s fiscal blueprint.  The legislators and Governor remain divided over taxes, particularly on natural gas extraction, an industry which has provided an economic boost for Pennsylvania.  The Governor wants to impose an extra tax on the industry, on top of the usual business taxes, which are relatively high for a state, as well as an “impact fee.”  Borrowing, gambling and privatizing wine and spirits are other options for additional revenue to avoid a nearly two-billion dollar shortfall.  

The Administration has continued to borrow funds to stave off any shut-down of state government, but, as the two-month mark of the current fiscal year approaches, the Commonwealth’s ability to continue to borrow funds is at risk, as is its credit rating.  The Governor and General Assembly must agree to fund the 2017 budget, without increasing taxes that can jeopardize Pennsylvania’s economy.