PA May See Deficit in 2019

Pennsylvania’s Independent Fiscal Office has released an annual budget report showing Pennsylvania lawmakers will probably have to fill a significant deficit in the next fiscal year. When the current fiscal year ends on June 30th 2019, the Independent Fiscal Office projects a budget deficit as high as one and a half billion dollars. IFO Director Matthew Knittel says it could be even higher if the economy slows down. He adds one-time revenue sources helping to fuel the current budget won’t be available next year, and even with no increase in spending, mandatory expenses such as Medicaid and other federal programs will send the state into the red without additional sources of revenue.