Addressing the FY 03 Deficit: PA 03-2 & How It Compares to the Vetoed Bill

This report summarizes PA 03-2, a bill adopted to mitigate the FY 03 deficit that was passed after the Governor vetoed a budget bill one week earlier. The report summarizes FY 03 tax and spending changes, and also compares the provisions of PA 03-2 (which was passed with some Republican support) to the bill that was vetoed (which was passed with only Democratic votes), highlighting in particular the ways in which PA 03-2 resulted in less progressive tax changes than the vetoed bill would have.(21 pp.)