HARRISBURG — If and when the nation goes over the so-called “fiscal cliff,” it will be more like a fiscal pothole for Pennsylvania.
State officials estimate that Pennsylvania stands to lose about $300 million in federal grants and subsidies if the nation plunges over the cliff on Dec. 31. It sounds like a big number — and for the programs funded with those dollars, it certainly is — but in the grand scheme of things the cuts would be a drop in Pennsylvania’s fiscal bucket.
A little perspective: $300 million is less than 1.5 percent of the $21.5 billion in federal funding received by Pennsylvania for the current budget year.
Source: PA Independent. Read full article. (link)