York County News

House Republican Appropriations Chairman Seth Grove (R-York) has released the monthly House Republican Appropriations Financial Brief for November 2023. In the brief, Grove highlighted the incomplete budget and revenue concerns that Pennsylvania is facing as the current year comes to a close.

Grove pointed out that the only notable tax revenue exceeding estimates is the Corporate Net Income Tax. However, efforts by House Republicans to curb spending and increase savings have resulted in significant interest earnings for both the General Fund and Rainy Day Fund.

According to the brief, year-to-date spending reached $19.18 billion by the end of November, while total revenues, less refunds, amounted to $15.47 billion. Grove expressed concern over the slow year-over-year growth in key revenue areas. Personal Income Taxes only grew by 3.8%, and Sales and Use Tax showed a growth of only 0.9%. Overall Tax Revenues saw an increase of only 1.8% compared to the previous fiscal year, despite a spending increase of over 5%.

Looking ahead, Grove called on House Democrats to work together with House and Senate Republicans to distribute funding for community colleges, 'Level-Up' funding, student-teacher stipends, and an increase in the Educational Improvement Tax Credit. It is crucial to finalize the current budget so that attention can be shifted towards addressing the Commonwealth's revenue shortfalls and implementing prudent financial planning for the coming fiscal years.

The November 2023 Financial Brief can be accessed here.

For media inquiries, please contact Charlie O'Neill at 717.260.6121 or coneill@pahousegop.com.

Representative Seth Grove represents the 196th District in the Pennsylvania House of Representatives.

Source: RepGrove.com / Facebook.com/RepSethGrove

For additional details, please follow this link: https://www.repgrove.com/News/33236/Latest-News/Grove-Issues-Financial-Brief-for-November-2023-