Shapiro’s Budgeting Would Lead to Tax Hikes and No Reserve Mar. 28, 2023 / When Gov. Josh Shapiro presented his first state budget proposal in early March, he painted a rosier-than-reality picture of Pennsylvania’s financial future. The $45.8 spending plan for Fiscal Year 2023-24 is nearly 6% higher than the current year and he’s counting on using part of the budget surplus to balance it. Overburdened taxpayers should be worried, as it only gets worse from there.