Economic Think Tank Says Pas Fiscal Health Is Not As Good As It Seems

09.26.19 | Terry Diener

Pennsylvania’s $34 billion budget for the 2019-2020 fiscal year did not include any new taxes or fees.

Yet, Truth in Accounting gave Pennsylvania a “D” grade for financial health. According to the annual report, Pennsylvania needs $75 billion. To meet the shortfall, every taxpayer would have to pay the state $17,100.

Truth in  CEO Sheila Weinberg says the reason for the grade is billions of dollars of unfunded retirement costs and future retiree health benefits for workers.