HARRISBURG – Rep. Ryan Warner (R-Fayette/Westmoreland) issued the following statement after voting in favor of the 2022-23 state budget:
“With a recession likely on the horizon, it is more important than ever to budget not only for this year but for future years as well. Rather than spend every dollar we have, as the governor sought to do in his initial proposal back in February, we are advancing a budget that commits more than $2 billion to the Rainy Day Fund, bringing it to a historic total of $5 billion. We are also preserving $3.6 billion in the General Fund for use in future budgets, as our own Independent Fiscal Office is projecting a decline in state revenues for the 2022-23 fiscal year.
“In addition to saving for our future, we are also taking steps to encourage economic growth by lowering the Corporate Net Income Tax, currently the second highest in the nation, and both reforming and simplifying taxes for small businesses. These changes will help attract much-needed new business investment, creating jobs and expanding the tax base to lessen the burden on hardworking families.
“This is a fiscally responsible budget that positions our Commonwealth and our citizens for success in the future.”
Senate Bill 1100
is awaiting further action by the Senate.