Statement: ‘Wolf’s Budget is Recklessly Balanced on Biden’s Inflationary Policies’

‘Wolf is all but promising future tax increases with the excessive spending in this budget plan’

HARRISBURG – Sen. Ryan Aument (R-36) released the following statement in response to Gov. Tom Wolf’s final budget address, made before the General Assembly today:

“While Gov. Tom Wolf’s budget proposal does not include any tax increases, his plan relies on manipulative accounting gimmicks that downplay expenses while inflating anticipated revenue. Because of that, we project a $13 billion deficit – which is nearly a third of what the governor is proposing to spend – by the fiscal year 2026-27.

“Fiscal responsibility is not a short-term goal, it’s a long-term policy. We need to protect Pennsylvanians not only from immediate tax increases but also from future tax increases. To be clear, a future tax increase will be necessary if we agree to fund Governor Wolf’s reckless budget proposal.

“So many people are already struggling due to the rising costs of everything from food to rent to energy bills. During a period of historic, out of control inflation brought on by irresponsible policies handed down from the Biden Administration, we must shield taxpayers from further strain on their household budgets.

“Balancing our budget on one-time funding from the Biden Administration will set our Commonwealth up for failure when that money inevitably runs out. If we want to foster a Pennsylvania where every resident has the opportunity to experience earned success and upward economic mobility, we must advance a fiscal plan that doesn’t rely so heavily on federal funds to balance this and future budgets.

“I believe the path to fiscal solvency is through pro-growth economic policies and protecting taxpayers from reckless spending. To that end, I was pleased that the governor’s proposal included a reduction in the Corporate Net Income (CNI) tax rate, a policy that I’ve been advocating for to promote growth, create family-sustaining jobs, and expand economic opportunity in our state.

Studies have shown that a reduction in the CNI tax results in increased wages and home values, as well as population, which is important since Pennsylvania has lost Congressional seats in every census since 1930, including the most recent one.

“As always, I will continue to work with my colleagues in the General Assembly for the benefit of district residents as we consider the governor’s suggestions and draft a budget that gives Pennsylvania the greatest chance for success not only in the next year but for generations to come.”

CONTACT:  Stephanie Applegate, 717-787-4420