The Independent Fiscal Office Thursday released budget projections showing that Pennsylvania is facing a multi-billion dollar budget deficit. Governor-elect Tom Wolf released the following statement concerning the report:
"The budget deficit projection released today by the Independent Fiscal Office is bad news for Pennsylvania, but the depth of the financial hole being left by the Corbett Administration is still not known.
"Today's report showing a multi-billion dollar budget deficit is a stark reminder of the dire fiscal situation my administration will face. As bad as today’s news is, what lies ahead could be worse. It is critical that we understand the full extent of this budget crisis so that we can address our challenges in a responsible manner.
"Leaders from both parties need to work together to achieve meaningful solutions for the people of Pennsylvania. We have to move Pennsylvania forward and make difficult decisions in order to solve our state's financial crisis."For more information, visit Gov.-Elect Wolf's Transition website.