Daily News | Gov. Wolf and Pa.’s remarkable budget turnaround | Editorial
into Harrisburg to find a dysfunctional and debt-ridden state. After signing his final budget, Wolf will leave the governor’s mansion and Pennsylvania in a much better place than when he arrived.boosts education funding by more than $1 billion while paying off $2 billion in past borrowing and cutting the corporate net income tax. Even more impressive, Wolf will leave behind a surplus of about $3.6 billion, while boosting the state’s rainy day fund from $2.9 billion to $5 billion.
Not all of this is Wolf’s doing. Pennsylvania’s fiscal recovery was fueled by increased tax revenues from a rebounding economy and billions in federal stimulus funds from the pandemic. But even still, Wolf has overseen a historic turnaround of the state’s finances. Wolf inherited a structural deficit of between $2 billion and $3 billion and a rainy day fund of just $231,000. Even worse, his predecessor, one-term Republican Tom Corbett,
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