PA. College Funding to be Slashed by $257 Million to Pay for $248 Million Cut in Business Taxes [View all]

[JPZenger]

Last edited Thu Feb 9, 2012, 11:03 PM - Edit history (2)

http://www.philly.com/philly/news/politics/state/138856944.html

If you total up the proposed cuts to the public colleges and need-based student college grants in PA, it comes out to $257 million. That is very close to the $247 millon cut that the Governor is proposing to the State's business taxes.

Here's more details on the proposed cuts:

Proposed cuts to public colleges (in addition to last year's 20 to 25% cuts):
Penn State -64.2 million
Pitt - 40.2 million
Temple - 42.0 million
Community Colleges - 8.8 million
State System of State Universities (West Chester, Indiana, etc.) - 82.6 million
PHEAA need-based grants provided directly to students - 19.0 million

Total = $ 256.8 million

vs.

Governor's Proposed Cut in the Capital Stock and Franchise Tax - $247.2 million

There are good arguments to be made to continue to reduce this tax over time, but does this big a cut in revenues need to be made at the time of so many other severe cuts???