Category: Budget

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It’s Time to Reinstate the Philadelphia Wealth Tax

  By PA Budget and Policy Center, Philadelphia, Philadelphia Budget, Philadelphia Taxes, Policy reports, Wealth Tax

Wealth inequality in America, in Pennsylvania, and in our region has been growing strikingly since the late 1970s. And wealth inequality continues to increase during the pandemic. The dramatic rise in wealth inequality threatens economic growth, reduces the tax revenues needed to fund vital public institutions, and undermines our democracy. To counter wealth inequality and to raise the revenue needed to fund programs that support the well-being of working people in our city, we call for the reinstitution of a wealth tax of 4 mill or .4% of the value of intangible wealth in Philadelphia. We estimate that this tax would raise more than $200 million per year in revenues for the city, which would provide the funds necessary to create and / or expand programs that would enable us to break down the barriers of class, race, and gender that stand in the way of opportunity for so many… Continue reading

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The Infrastructure Investment and Jobs Act: A Major Step Forward

  By Environment, Federal Budget, Infrastructure, Statements

The Infrastructure Investment and Jobs Act: A Major Step Forward Statement from PA Budget and Policy Center, Keystone Research Center, and 99% PA Campaign In passing the Infrastructure Investment and Jobs Act last night, the House of Representatives advanced the first of two parts of President Biden’s investment agenda. The over $1 billion infrastructure bill will generate the largest expenditure on the physical infrastructure of our country in decades. It will make huge new investments in roads and bridges, railroads and public transit, clean drinking water, high-speed internet, and repairing the damage to land and water from extractive industries. These and other investments will reduce costs for businesses and consumers, make our economy more competitive, and together with the second part of the Build Back Better plan, create an average of 1.5 million good new jobs per year, many of which will be unionized. It takes time to enact major… Continue reading

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Memo: The Budget No One Wants

  By Memos, PA Budget and Policy Center, Pennsylvania Budget

To: Editorial boards, columnists, political reporters, and other interested parties From: Marc Stier, Director, PA Budget and Policy Center Re: 2021-22 Pennsylvania Budget Date: June 22, 2021 We may not know the details of the Pennsylvania General Fund budget that the General Assembly will adopt until sometime tomorrow. But the overall shape of the budget is becoming clear. And it is profoundly disappointing. The General Assembly has roughly $10 billion that could—and should—be used to help those whose lives have been most disrupted by the pandemic and to take major steps towards creating a more just and inclusive economy. The urgent need for more public investment could not be clearer: Pennsylvania has the most unequal K-12 school funding in the country. Our analysis shows that the average school district has a severe funding gap when measured by state standards. But the gap is ten times as big for school districts… Continue reading

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The PA Budget: A Disgrace and Dereliction of Duty

  By PA Budget and Policy Center, Pennsylvania Budget, Statements

FOR IMMEDIATE RELEASE June 25, 2021 Contact: Adrienne Standley standley@pennbpc.org 717-805-8466 Statement by Marc Stier, Director, Pennsylvania Budget and Policy Center The General Fund budget being presented today is a disgrace and a dereliction of duty. The state is flush with more than $10 billion in our federal and state tax dollars which could be spent both to help those who have been left behind by the pandemic and to take a first step toward addressing the deep inequities that long preceded it. But the Republican leaders of the PA General Assembly plan to leave that money in the bank. About $7.5 billion of the funds available will be reserved to provide one more temporary fix to budget deficits created not by the pandemic but by ten years of Republican-led fiscal mismanagement that includes deep cuts to corporate taxes which now cost the state $4 billion per year in new… Continue reading

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PBPC-State Innovation Exchange Poll on Budget and Democracy Issues

  By PA Budget and Policy Center, Pennsylvania Budget, Polling

The poll we are releasing today was commissioned by the State Innovation Exchange and the PA Budget and Policy Center. It is the third poll on tax, budget, and democracy issues sponsored by the two organizations. The poll is also part of a six-state public opinion survey effort by the State Innovation Exchange. Topline Findings: American Rescue Plan and PA Budget As the Pennsylvania economy continues to reverse course from the pandemic, this poll shows clearly that PA voters have a big appetite for public investment and little appetite for austerity. The poll shows that by a 3-1 margin Pennsylvanians prefer investing American Rescue Plan funds in people and businesses over using the money to pay down structural budget deficits. It shows overwhelming support for a range of public investments with ARP funds, including: Low-interest small business loans Combating homelessness, lack of affordable housing, and food insecurity Hazard pay for… Continue reading

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This Year We Need to Pass A Budget for the People not the Powerful

  By Pennsylvania Budget, Published Op-Eds

Originally published by the PA Capital-Star on June 16, 2021 The General Assembly has two more weeks to pass a budget for next year.  This year, the budget can be—and must be—different than recent budgets. This year we are coming out of a pandemic that created vast suffering for workers, local businesses, and our communities. Millions of Pennsylvanians took on hazardous work during the pandemic at very low wages. They deserve just compensation. They deserve a reward.  Thousands of small businesses remain on the brink of closing. They deserve help. Communities all over the state are trying to return to normal. They need assistance.  And all of the suffering has revealed deep inequities in our society. Before the pandemic, some of us were already aware that … millions of Pennsylvanians are not paid wages that lift them or their families out of poverty. educational opportunities are not distributed fairly to kids who live in low- or moderate-income communities, or who are Black or Hispanic.  the state invests less in higher… Continue reading

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The FY2021-22 PA State Budget: The People’s Budget & Tracking ARP Funds in PA

  By American Rescue Plan, Federal Budget, PA Budget and Policy Center, Pennsylvania Budget, Video

This is a recording of a Zoom meeting hosted by the PA Budget & Policy Center on Thursday, April 15, 2021, to provide updates related to PA’s state budget and the allocation of the $7.3 billion in assistance that the American Rescue Plan delivered to PA’s state government. PBPC director Marc Stier talks about the fiscal challenges facing the Commonwealth and discusses the “People’s Budget,” an effort by several legislators to propose a way to raise the revenue necessary to make long-overdue investments in important programs and priorities. The video also features PBPC’s senior policy analyst Diana Polson presenting recently updated information about how American Rescue Act funds will be distributed in PA, highlighting an online spreadsheet for tracking these allocations: Tracking American Rescue Plan Funding Distribution in PA.    Continue reading

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ANALYSIS: Governor Wolf’s Proposed 2020-21 State Budget

  By PA Budget and Policy Center, PBPC Blog posts, Pennsylvania Budget, Video

The Pennsylvania Budget & Policy Center’s analysis of Governor Tom Wolf’s proposed state budget for FY2020-21 will be presented as a webinar at 9 am this Monday, March 23. The presenters will be PBPC director, Marc Stier, and PBPC’s senior policy analyst, Diana Polson, along with Stephen Herzenberg, the executive director of the Keystone Research Center. In addition to providing an overview of the governor’s budget proposal, the webinar will also include some of PBPC’s ideas about how PA should be responding to the coronavirus pandemic and how the state budget may need to be adjusted in light of a recession that seems imminent. You can read PBPC’s COVID-19 proposed action plan “The Moral Equivalent of Wartime Equality: Public Policies in Response to the COVID-19 Pandemic in Pennsylvania.”   Continue reading