HARRISBURG – Pennsylvania House Majority Leader Kerry Benninghoff (R-Centre/Mifflin) said Thursday the 2022-23 state budget reflects the realities of today and tomorrow by saving for future economic uncertainty; returning taxpayer investment in the Commonwealth; and investing in Pennsylvania’s students, families and communities to create a better future.
“I am proud that this budget avoids the irresponsible temptation to go on an unmitigated spending spree, but instead continues to reflect prudent budgeting practices that, with combined state appropriations and the expenditure of remaining American Rescue Plan dollars, continues to keep spending in line with growth,” Benninghoff said.
“This budget also plans for our future by increasing our Rainy Day Fund to never-before-seen levels and preserves surplus dollars to mitigate against tax increases or budget cuts in the event a forecasted economic downturn and projected budget deficits become realities.”
The state budget and related legislation also includes major policy advancements for Pennsylvanians like a historic reduction in taxes on job creators, tax fairness and simplification for small businesses, and funding for election integrity initiatives.
“For years there has been bipartisan belief that our Corporate Net Income Tax (CNIT) is a major disincentive to job creators that wish to further invest in Pennsylvania. By reducing the CNIT this year, with continued reductions in future years, and also helping our small businesses with tax fairness and simplification, we will drive natural growth and investment in the Commonwealth that will strengthen our communities and lead to a better Pennsylvania,” Benninghoff stated.
On top of historic investments in education and supporting Pennsylvania’s most vulnerable, the spending plan also provides for strategic expenditures in infrastructure, health care access, family support, avian flu mitigation, public safety initiatives, and funding for the largest conservation and parkland preservation efforts.
“The 2022-23 state budget ensures our state government can meet the needs of Pennsylvanians and support our families and communities,” Benninghoff said.
“Making Pennsylvania the ‘Envy of the East’ starts with having a Pennsylvania that is competitive with safe communities, reliable infrastructure, world-class health care facilities, and a clean environment.
“I am proud of the investments in Pennsylvania this budget delivers while balancing the competing needs of tomorrow.”