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Monday 4th November 2024

Pa., Revenue Grew During COVID, Spending Grew Faster

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A new report says Pennsylvania saw more money during the coronavirus outbreak, but also spent more. A new report from the Independent Fiscal Office says state revenues grew by 30 percent over the past five years, but state spending grew by 33 percent. Corporate net income taxed grew the most, at 66 percent, but so did inheritance taxes, sales and use taxes, and personal income taxes. The report says most of the spending growth came in Medicaid and school spending.

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