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The Pennsylvania Constitution requires the adoption of a budget by midnight June 30 each year, the last day in the fiscal year. [5] [6] There were seven consecutive budget impasses in Pennsylvania between 2003 and 2009, with tensions between Democratic Governor Ed Rendell and the Republican-controlled State Senate delaying the passage of annual budgets. [7]
The Pennsylvania Department of Revenue (DOR) is an agency of the U.S. state of Pennsylvania. The department is responsible for collecting all Pennsylvania taxes, including all corporate taxes and taxes on inheritance, personal income, sales and use, realty transfer, motor fuel, and all other state taxes. [1]
As the name "Treasury" suggests, the department's paramount responsibility is safeguarding and managing the state's financial assets, but Pennsylvania's constitution and statutes place additional specific responsibilities on the office. [citation needed] Taxes and other sources of revenue collected by the state are deposited with the Treasury.
The Laws of the General Assembly of the Commonwealth of Pennsylvania (also known as the Pamphlet Laws or just Laws of Pennsylvania, as well as the Acts of the General Assembly of the Commonwealth of Pennsylvania) is the compilation of session laws passed by the Pennsylvania General Assembly. [1]
Act 72 funding, as it came to be known, was accepted by only one fifth of Pennsylvania's school districts. Following Act 72, Rendell and the Pennsylvania legislature looked at other proposals to reduce property taxes, a key component of his 2002 campaign. The governor said he was willing to consider legislation that changes Act 72, and ...
In America, headline inflation has subsided. In February 2024, the U.S. consumer price index saw an annual increase of 3.2%, down from its peak 9.1% increase registered in June 2022.
The Institute on Taxation and Economic Policy (ITEP) is a non-profit, nonpartisan think tank that works on state and federal tax policy issues. ITEP was founded in 1980, and is a 501(c)(3) tax-exempt organization.
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach ...