This is a brief update on recent Pennsylvania tax developments.
For more information, contact one of the authors or the Reed Smith
attorney with whom you usually work.
Governor Wolf's FY16 Budget Proposal—combined
reporting and more On March 3, Gov. Tom Wolf (D) presented
his first budget address as Pennsylvania's 47th governor.
Facing a roughly $2 billion budget deficit, Wolf proposed several
tax reforms, as expected. Wolf's proposals were met with a
mixed reaction from members of the General Assembly.
Given the House and Senate Republican majorities, Wolf will need
to convince legislators from the other side of the aisle to
accomplish his goals. For example, Senate Majority Leader Corman
(R) has stated that he won't consider Wolf's tax reform
proposals until he addresses public pension reform. And Senate
Republicans released a statement following the budget address,
stating that "the Senate Republican Caucus does not believe
that massive tax increases will help
