Altoona Times

Following the approval of the 2022-23 state budget, Representative Lou Schmitt from Altoona, who serves on the House Appropriations Committee responsible for overseeing the state budget, released a statement regarding its implications and objectives.

"The budget we approved today is a blueprint to build a sound fiscal house here in Pennsylvania while making key investments in core government services," Schmitt stated. He emphasized the importance of setting aside $2.1 billion into the Rainy Day Fund to safeguard residents against potential economic downturns. "This is the responsible step to take. A family wouldn’t spend the entirety of a financial windfall on one single thing; rather it would plan accordingly and set money aside for the future. That is exactly what the Legislature did in putting money aside in the Rainy Day Fund."

Schmitt highlighted that paying down state debt was another priority addressed by this budget, which he believes will place Pennsylvania on more stable financial ground and enhance its overall fiscal outlook.

In terms of education funding, Schmitt noted an increase of $525 million for basic education. Additionally, $225 million has been allocated through Level Up funding to support 100 financially challenged school districts, including Altoona Area School District. The budget also includes a significant investment in environmental protection with $100 million earmarked for rehabilitating parks and forest areas.

Schmitt also mentioned changes aimed at stimulating economic growth by reducing the Corporate Net Income Tax rate. "Pennsylvania has a proud and mighty workforce, and our workers shouldn’t be denied family-sustaining jobs because businesses shy away from coming here because of the high tax rate," he remarked.

The statement concluded with contact information for media inquiries directed towards Greg Gross.