Delaware County Chamber of Commerce
  • About Us
    • Our Team
    • Board of Directors
    • Committees >
      • Diversity, Equity & Inclusion
      • Business Owners Group
      • Government Affairs - Advocacy in Action
      • Veterans & Business
      • YP Committee
    • Facility Rentals
  • Events & News
    • Biz Buzz Blog
    • Chamber Calendar
    • Community Calendar
    • Webinar Archive
    • Nominate
    • Community News
    • Sponsor
    • Host
  • Membership
    • Business Directory
    • JOIN NOW!
    • Why Join?
    • Member Discounts
    • Member to Member Coupons
    • Advertising
    • Member Connect
    • Member Login
    • Testimonials
  • Workforce Development
  • Chamber Foundation
    • History
    • Foundation Board of Directors
    • Get Involved
    • Programs >
      • Leadership Delaware County
      • Magnifying Manufacturing
      • Youth Leadership Academy
  • Local Information
    • COVID-19
    • Advocacy in Action
    • Business Resources
    • County Government
    • Visit Delco, PA
    • Elected Officials
    • Job Bank
    • Shop Delco, PA!
  • About Us
    • Our Team
    • Board of Directors
    • Committees >
      • Diversity, Equity & Inclusion
      • Business Owners Group
      • Government Affairs - Advocacy in Action
      • Veterans & Business
      • YP Committee
    • Facility Rentals
  • Events & News
    • Biz Buzz Blog
    • Chamber Calendar
    • Community Calendar
    • Webinar Archive
    • Nominate
    • Community News
    • Sponsor
    • Host
  • Membership
    • Business Directory
    • JOIN NOW!
    • Why Join?
    • Member Discounts
    • Member to Member Coupons
    • Advertising
    • Member Connect
    • Member Login
    • Testimonials
  • Workforce Development
  • Chamber Foundation
    • History
    • Foundation Board of Directors
    • Get Involved
    • Programs >
      • Leadership Delaware County
      • Magnifying Manufacturing
      • Youth Leadership Academy
  • Local Information
    • COVID-19
    • Advocacy in Action
    • Business Resources
    • County Government
    • Visit Delco, PA
    • Elected Officials
    • Job Bank
    • Shop Delco, PA!

Biz Buzz
CHAMBER BLOG

The PA General Assembly will finalize the annual state budget.

7/8/2022

0 Comments

 
​The PA General Assembly will finalize today the annual state budget. Senate Bill 1100 (Pat Browne, R-Lehigh), is a $45.2 billion budget plan includes an $850 million increase for K-12 school districts, plus increase spending by 2.9 percent over the 2021-22 budget.
It will also pay down $2 billion in “structural” debt and increase the Rainy-Day Fund to $5 billion, while preserving $3.6 billion of the state’s surplus for future budgets. Items include:
 
  • The budget proposal also includes a phased reduction in the corporate net income tax from 9.99 percent to 4.99 percent over the next nine years.
  • A state childcare tax credit equal to 30 percent of the federal credit
  • Small businesses would also receive additional tax credits in the form of expense deductions for investments in equipment and growth (like kind exchanges) and by allowing them to carry forward tax liabilities for gains on property transactions.
  • $1.7 billion to bring Medicaid payments to timely payments.
  • $100 million in one-time federal relief funds for mental health access and resources in Pennsylvania
  • $350 million repaid to the Workers’ Compensation Security Fund.
  • Approximately $42 million to pay off outstanding debt in the Unemployment Compensation Trust Fund
  • A one-time 70 percent property tax rebate for senior citizens
  • Additional funds for the utility assistance program.
  • $45 million for election integrity and administration to be administered by the Department of Community and Economic Development
  • $50 million in federal relief funds for gun violence investigation and prosecution grants
  • A $75 million increase to the Pennsylvania State System of Higher Education’s general fund
  • $100 million in one-time federal relief funds for repair and development in Pennsylvania parks and forests
  • Boosts the Education Improvement Tax Credit (EITC) and Opportunity Scholarship Tax Credit (OSTC) programs by a combined $125 million
 
Although the $525 million increase in basic education funding is less than half of Wolf’s $1.2 billion proposal, it is nonetheless a historic boost in state assistance for Pennsylvania public schools, education advocates have said. It also increases Level Up funding for the state’s 100 neediest school districts by $225 million and special education funding by $100 million. One-time grant programs for school security and mental health investments would each receive $100 million. The Pennsylvania State System of Higher Education would receive a $75 million increase in general fund money and $125 million in pandemic funding to pay for the ongoing process of integrating its campuses. 
Fiscal Code Summary
Human Services Code Summary
School Code Summary
Tax Code Summary
0 Comments



Leave a Reply.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    September 2021
    August 2021
    July 2021
    June 2021
    April 2021
    March 2021
    February 2021
    December 2020
    November 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    April 2019
    March 2019
    February 2019
    December 2018
    November 2018
    September 2018
    August 2018

    Categories

    All
    Business Owner
    Chamber Membership
    Coronavirus
    Diversity & Inclusion
    Government Affairs
    IT
    Leadership Delaware County Spotlight
    Marketing
    Personal Growth

    RSS Feed

Delaware County Chamber of Commerce.  All Rights Reserved.
1001 Baltimore Pike  |  Suite 9 LL  |  Springfield, PA 19064
Phone: (610) 565-3677 |
info@delcochamber.org | sitemap