Taxpayer Protection Limit equal to 3.29%

With the latest population estimate from the Census Bureau (which shows continued anemic growth in PA), we can now estimate what the spending limit under the proposed Taxpayer Protection Act (which 58% of the Senate has signed on to as cosponsors) would be.

As the table below illustrates, the TPA Index for 2008-09 budget would be 3.29%. As the TPA applies only to the General Fund (and any “new funds”) the limit for the 07-08 budget would be $28.056 billion – an $894 million increase.