Uncertain Revenue Expectations Cloud Pennsylvania’s Financial Future

Two of Pennsylvania’s most respected economic analysts offered muddy expectations of future revenue estimates on Monday. Acting Revenue Secretary Pat Browne sat before the Senate Appropriations Committee – on which he served as majority chairman for nearly a decade before joining Gov. Josh Shapiro’s administration – to discuss how to spend the $50 billion in the state’s bank account at the end of the fiscal year on June 30. The total, including $42.2 billion in recurring revenues and $5.7 billion in rainy day funds, would cover Shapiro’s $44.3 billion spending plan that infuses significant investments into public education, public safety and workforce development.