Proposed Budgets (Yep, It’s That Time Again)
Budget discussions are underway, both at the state and federal levels. In Pennsylvania, among other suggestions, Governor Rendell is proposing a lift on some sales-tax exemptions coupled with a plan for a lower sales tax (4%, rather than the current 6% rate). The Lehigh Valley’s leaders chimed in their thoughts on the Governor’s budget proposal in today’s Morning Call.
Nationally, Obama’s proposal includes a plan for a National Infrastructure Bank, that would support both national and regional projects. The New Republic reported on this plan, though with slight disappointment that the proposal only focuses on transportation proposals.
Other noteworthy aspects of the national budget: increased funding for the Clean Water and Drinking Water Revolving Funds and more funding for high-speed rail projects. As Pennsylvania moves forward on plans for an integrated state rail plan, the hope remains that the Commonwealth will have several projects eligible for this funding.
Thoughts on these budgets?