Gov. Wolf Cautiously Optimistic To Have Budget Before Thanksgiving
PITTSBURGH (NewsRadio 1020 KDKA) – The framework is in place to end the five-month budget impasse in Pennsylvania and Gov. Tom Wolf joined the "KDKA Morning News" with Larry Richert and John Shumway to talk about the proposed sales tax increase and property tax relief.
If the current budget proposal passes, there will be a 1.25 percent hike in sales tax. It's an increase that Wolf says is necessary to offset the property tax cuts that are proposed.
"If the budget actually gets signed in its present form, [Pennsylvania will] have about $2 billion of property tax relief and that's the first significant property tax relief in my lifetime," says Wolf.
Wolf says there will be a "historic" increase in education if the budget is passed.
Gov. Wolf is cautiously optimistic that Pennsylvania will have a budget before Thanksgiving and thinks there something in to the budget to, "please everyone and there's something in this framework to displease everyone."
The proposed sales tax increase, Wolf says, is needed to cover the revenue lost from the cut in property tax.
"It's a transition from local taxes to a state tax. So, to a certain to extent, it is a shift. By definition, it's a dollar for dollar reduction in property taxes, which means it's also a dollar for dollar increase in sales tax," says Wolf.
Wolf hopes this proposed budget can get passed soon.
"We're all trying, Republicans and Democrats, to get this done before Thanksgiving," says Wolf.
Listen to the KDKA Radio Morning News with Larry Richert and John Shumway weekdays from 5 to 9 a.m. on NewsRadio 1020 KDKA.
Like NewsRadio 1020 KDKA On Facebook
Follow NewsRadio 1020 KDKA On Twitter
