A faction of the House Republicans Tuesday unveiled a plan to take over $1.2 billion from 41 special funds as a way to balance the FY 2016-17 and 2017-18 budgets without raising taxes or borrowing large sums of money.
They say the $2.246 billion revenue proposal identifies the $1.2 billion in the special funds as “surplus” and “unused” tax money just laying in these accounts.
The proposal also includes--
-- Endorsing Gov. Wolf’s action to put $189.3 million in spending in budgetary reserve;
-- Diverting the $30.4 million state Attorney General settlement with Volkswagen for air emissions violations to the General Fund, which was included in the Senate-passed revenue package; and
-- Cutting tax credit programs by 50 percent, although no list was provided.
“This proposal will not cost one job, compromise any program or close any agency,” said Rep. Dan Moul (R-Adams), leader of the group.
The group would take monies from special funds, including--
-- Compulsive and Problem Gambling Treatment Fund: $4.2 million;
-- Multimodel Transportation Fund: $120 million;
-- Racing Fund: $27 million; and
-- Underground Storage Tank Indemnification Fund: $100 million.
More details of the plan are available online.
