Last week, on the eve of Governor Shapiro’s budget address, NFIB members joined a well-attended annual Economic Forum in Harrisburg, hearing from state officials and lawmakers on Pennsylvania’s economic outlook. Matthew Knittel, director of the independent fiscal office, explained recent state economic trends and Pennsylvania’s pre- and post-pandemic labor markets.

Attendees also heard from Representative Seth Grove, Republican Chair of the PA House Appropriations Committee, and State Treasurer Stacy Garrity. Representative Grove explained the state’s current structural deficit and his concerns over increased spending. “Assuming the revenue estimates are accurate, the Commonwealth will run a $1.9 billion deficit in this current fiscal year,” said Grove.

Treasurer Garrity further explained the role of her office and the importance of looking at the state’s structural deficit. “The Independent Fiscal Office predicts a fiscal cliff in just a few short years, and the decisions made as part of this year’s budget process will determine how high that cliff is,” said Garrity.

Attendees were also able to ask questions and engage in conversations with fellow business owners, lawmakers, and guest speakers. Thank you to all that were able to attend and make the annual economic forum a great event. We look forward to seeing you next year!