Lycoming News

Senator Gene Yaw of Pennsylvania has expressed his concerns over Governor Josh Shapiro's proposed 2024-2025 state budget. The budget includes a massive $3.2 billion increase in state spending, which Yaw finds disappointing. He believes that the governor has failed to acknowledge the importance of strengthening the energy sector and ensuring the reliability of the state's electric grid.

Yaw pointed out that the budget does not mention the burgeoning natural gas industry in Pennsylvania, the potential for lowering emissions through carbon capture technologies, or the billions of dollars expected from hydrogen hub projects. He emphasized that energy is a pillar of any strong economy and should not be overlooked.

Shapiro's budget plan represents a 7.1% increase in overall state spending, which Yaw believes will make it challenging to balance future budgets and maintain the state's Rainy Day Fund savings account. Yaw expressed concern that the budget would eliminate the state's current and future budgetary reserves, including the Rainy Day Fund, over the next five years.

The senator criticized the Shapiro Administration's spending and revenue projections, stating that they are unrealistic and will likely lead to deep spending cuts and tax increases on Pennsylvanians in the near future. He contrasted this approach with the cautious and responsible budgets that Senate Republicans have worked to enact in recent years, which have received praise from credit rating agencies and reduced long-term debt service costs.

Yaw also highlighted the potential consequences of increased spending in the budget, such as higher inflation and increased costs for struggling families. He specifically mentioned the unrealistic $1.5 billion hike in K-12 education spending and the discrepancy between projected education spending and the recommendations of the Basic Education Funding Commission's report.

The budget also includes funding for other initiatives, such as the merger of the Pennsylvania State System of Higher Education with the state's community colleges, increased mass transit funding, and a new bond issuance for business sites development. It also includes proposals for new taxes related to the legalization and regulation of adult-use cannabis and skill games.

Senate Republicans plan to thoroughly examine Shapiro's budget proposal in the coming months and search for greater efficiencies. The Senate Appropriations Committee will begin budget hearings on February 20th to study the proposal.

Overall, Senator Gene Yaw has expressed his concerns about the massive spending increase in Governor Josh Shapiro's proposed budget and the failure to address Pennsylvania's energy sector. He believes that the budget's unrealistic projections and excessive spending will have negative consequences for the state's economy and its residents.