Wolf administration: Budget outlook better than independent fiscal office projections

Tony Romeo
December 11, 2018 - 3:35 pm
Albright briefs reporters in the state Capitol Tuesday

Tony Romeo/KYW Newsradio

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HARRISBURG, Pa. (KYW Newsradio) -- The Wolf administration is downplaying projections of a significant deficit in the next fiscal year made by the independent office that monitors state finances.

State Budget Secretary Randy Albright briefed reporters on the mid-fiscal-year status of the state budget Tuesday.

He says the administration believes the Commonwealth is in a better financial position than the Independent Fiscal Office, which last month projected a possible deficit of more than $1.5 billion in the fiscal year that starts in July.

“We are much more optimistic,” Albright said. “No, we don’t think we face a $1.5 billion deficit for the proposed budget year.”

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Matthew Knittel is director of the Independent Fiscal Office.

“We’re still comfortable that there is a fairly significant deficit next year, and again, under current law,” he said.

The budget secretary says the administration’s assessment differs based on a robust economy and belief in state government’s ability to contain costs.

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