Nate Benefield, Senior VP at the Commonwealth Foundation joins Dawn LIVE! Nate expands on the recent Commonwealth report expanding on the Shapiro budget, and the deficit that PA residents could face long after Gov. Shapiro's stint as Governor...
From the report:
Gov. Josh Shapiro proposed a $48.3 billion 2024–25 General Fund budget, a $3 billion or 7.1 percent spending increase compared to last year’s ongoing general fund spending.
The proposal overestimates revenue growth and underestimates spending growth compared to projections from the Pennsylvania Independent Fiscal Office (IFO), meaning deficits under Shapiro’s plan may be even higher than projected.
Shapiro’s budget would balloon the structural deficit to more than $6 billion. His proposed series of startling increases and new initiatives would empty Pennsylvania’s checking account and illegally raid the Rainy Day Fund, necessitating a tax hike of more than $2,000 per family of four.
Pennsylvania’s aging population and the persistent, troubling outmigration of its working-age residents present long-term budgetary challenges for policymakers. Shapiro’s budget, as proposed, fails to address our economic competitiveness, exacerbating these trends.
Nathan (Nate) Benefield is the Senior Vice President at the Commonwealth Foundation.
An Ohio native, Nate holds an undergraduate degree in political science and economics and a master’s degree in public service management from DePaul University in Chicago. He also completed his doctoral studies (ABD) in political science at Loyola University, also in Chicago.
Nate joined the Commonwealth Foundation in 2005. Now as senior vice president, he provides strategic leadership as well as operational oversight spanning policy analysis, government relations, marketing, and communications.
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