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In this Update:
Stronger Rainy Day Fund Improves PA’s Financial Position
Moody’s Investor Services has affirmed Pennsylvania’s current bond rating and revised the state’s financial outlook from stable to positive. As part of its decision to upgrade the commonwealth’s status, Moody’s commended the amount of money in the state’s Rainy Day Fund. Bolstering our financial safety net has been a top priority in the past three years, and it is encouraging to see those efforts translate to real results. Because of hard decisions made by Senate Republicans to resist the urge to spend billions and instead embrace smarter budgeting approaches, Pennsylvania’s financial position has improved. My reaction to this announcement is available here. Revenue Collections Below Monthly Estimate
Each month, the Senate Appropriations Committee prepares an update about the state’s financial health. The most recent report shows that General Fund revenue collections of $2.9 billion in August were below the monthly estimate by $27.1 million, or 0.9%. The Shapiro Administration recently approved collective bargaining agreements with the state’s major labor unions that are projected to cost taxpayers $3.2 billion during the next four years. The full update, including the monthly revenue report, is available here. Preparing for Election Day
In honor of National Voter Registration Day on Tuesday, it’s a great time to prepare for Election Day on Nov. 7. The deadline to register to vote is Oct. 23. If you’ve moved, you can also double check that you’re registered to vote at your current address. Anyone who wishes to vote by mail must apply by Oct. 31. You have to be a registered voter to submit an application. If you are looking for a way to help your community, learn more about becoming a poll worker here. Thousands of Pennsylvanians are necessary to run elections, and poll workers are needed in all 67 counties. Free Support Available to Military Members
As a reminder for Suicide Prevention Month, veterans in crisis can call the toll-free Veterans Crisis Line. It serves veterans, service members, National Guard and Reserve members, and those who support them. A caring, qualified responder is available to provide confidential support and connect callers with resources 24/7, 365 days a year. Call 988 and then press 1 or chat online. On the Airwaves: WDAC and PCNJoin me on WDAC FM 94.5 on Saturday at noon to hear my discussion with Greg Barton about the state’s financial position, the state budget and more. In addition, I look forward to talking about budget implementation bills and legislation the Senate could consider next week during an appearance on PCN’s Capitol Preview Program from 9-10 a.m. I hope you can tune in!
If you have a question about the information in this e-newsletter or other state related matters that you would like a response to, please click HERE to submit your inquiry through my website. This will help to ensure that we are able to respond to your question in a timely fashion due to the high volume of emails and the ever growing amount of computer generated spam mail we receive daily. |
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