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Corbett, Lawmakers Announce Budget Agreement



Governor Tom Corbett says he and top Republican state lawmakers have an agreement on a nearly $27.7-billion spending plan for the fiscal year that begins July 1st.
 
Wednesday evening's agreement came after two weeks of almost-daily talks. Corbett wouldn't give details, but the plan appears identical to one advanced by lawmakers. They also say they have an agreement on legislation for a tax credit that Corbett wants to lure an integrated petrochemical industry to Pennsylvania.
 
Negotiations moved slowly as Corbett worked to tamp down the Legislature's spending demands in favor of saving money for spiraling public employee pension costs.
 
The sides otherwise had agreed on a no-new-taxes budget that cuts taxes by $275-million for businesses and eliminates a $150-million cash benefit for nearly 70,000 temporarily disabled adults.

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Topics : Business_FinanceLaborPoliticsSocial Issues
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Locations : Pennsylvania
People : Tom Corbett
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