New Stimulus Check: Pennsylvania Considers New Stimulus Check as State Surplus Grows

New Stimulus Check: According to local news outlets, Democratic minority leader in the Pennsylvania state senate Jay Costa is suggesting giving citizens a “one-time lump sum payment” made up of a portion of the state budget surplus.

New Pennsylvania Stimulus Check

Costa stated on Friday on WHTM’s This Week in Pennsylvania that the state is “well-positioned resource-wise” and is probably going to have more than $800 million in surplus for this fiscal year. According to Newsweek, The deadline for Pennsylvania officials to adopt the final budget for the fiscal year 2024–2025 is June 30.

“We have one month left before the June 30 deadline,” he said to the TV station. “I think resource-wise we’re well positioned in Pennsylvania with better than a $14 billion budget surplus, but also this year we’re seeing that, now that we’re moving into June, we’re probably going to have $800 million excess surplus just for this fiscal year.”

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He continued: “We’re well-positioned to make investment, we’ll be thoughtful and figuring out ways in which we can return some of that money to Pennsylvania taxpayers.”

When asked if he agreed with his Republican colleagues’ proposal to use the $14 billion surplus to lower the state’s 3.07% personal income tax to 2.8%, Costa stated that while it was a possibility, returning the money to the people as a “one-time lump sum payment” would be a potentially better idea.

“If we provide maybe a one-time lump sum payment back to folks they can immediately put it back into the economy,” he stated. “Or we can look at something similar to what we did before with the child and dependent care tax credit program,” he said.