General Fund
The General Fund budget expenditure will be $17.987 billion for the 1998-99 fiscal year. That represents growth of $838 million or 4.9% over the current fiscal year. The passed budget spends $200 million more than the Governor originally proposed in February.
House Bill 2281 also places an additional $150 million into the Rainy Day Fund. This amount is in addition to the estimated $52 million that will automatically be transferred into the fund as 15% of the budget surplus.
The Governor has not yet certified what the official revenue estimate will be. It is assumed that the estimate will be higher than the estimate of $18.191 billion that was contained in the Governor=s budget proposal. The additional money is necessary due to the additional $200 million spent in the final budget over the Governor=s proposal and the additional tax cuts that are also part of the final legislation.
For more information, contact the Office of State Senator
Vincent J. Fumo.
| 1208 Tasker Street Philadelphia, PA 19148 (215) 468-3866 |
2637 East Clearfield Street Philadelphia, PA 19134 (215) 423-7670 |
Senate Box 203001 Harrisburg, PA 17120-3001 (717) 787-5662 |
E-Mail: Senator_Fumo@fumo.com.
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Copyright 2000 Sen. Vincent J. Fumo