Many in Harrisburg are patting themselves on the back with the announcement today by the Governor that the Commonwealth’s Rainy Day Fund hit a record high of nearly $5 billion. This only validates my point during the most recent budget cycle that permanently removing table game revenue (over $130 million dollars) from the Property Tax Relief Fund was bad policy and it needs to be reversed. This permanent revenue elimination was carried out in budget fine print – reneging on a promise that this legislature made to our homeowners over a decade ago.
I am urging Senate leaders to bring forth my legislation, Senate Bill 1308, to make that repeal when we return to session this month.
The announcement also demonstrates that leaders in Harrisburg should have done more during the budget this summer for our residents who are struggling due to the record high inflation. Price increases are impacting everyone’s bottom line. While state government cannot fix monetary policy or national product shortages, we can find ways to help our families without creating additional red tape. It is why I proposed both a sales tax holiday and a gas tax holiday which are needed as much now as they were in June.
A record level in our Commonwealth’s Rainy Day Fund is welcomed news, however, it proves we are in a position to give Pennsylvania homeowners the property tax relief we promised them with table games and open the discussion to find more ways to help our residents through these difficult economic times.