Shapiro's 1st Pa. Budget to Focus on Schools, Business Taxes

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The governor is expected to unveil his first state budget late Tuesday morning. NBC10 plans to stream the speech live at about 11:30 a.m.

Gov. Josh Shapiro is expected to emphasize funding for Pennsylvania's poorest school districts and making the state more competitive for cutting-edge tech firms when he delivers his first budget to the Legislature on Tuesday.

Shapiro's budget proposal comes as Pennsylvania keeps taking in robust tax collections, leaving it with $11 billion in reserve cash, even as it faces demands for more money for schools and social services and what Shapiro calls a workforce crisis.

Shapiro also has said he wants to be a cheerleader to attract new high-tech firms and slash the state's corporate net income tax rate by more than half by 2025, a move that would save businesses billions of dollars. That pledge comes as Pennsylvania competes for a federally funded hydrogen hub and tries to attract the kind of multibillion-dollar battery plants and microchip factories that other states are landing.

All told, Shapiro's budget plan for the 2023-24 fiscal year that starts July 1 is likely to exceed the current fiscal year's $42.8 billion approved budget. He has said he will seek no tax increases.

 

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