Pennsylvania passes $50.1B budget, ending stalemate

Driving the news: Gov. Josh Shapiro signed a roughly $50.1 billion, bipartisan spending plan on Wednesday.

• The deal, which hiked spending by 5% over last year, came together quickly this week after months of stalled negotiations in Pennsylvania's divided government.

1 stunning stat: The budget is 134 days late.

Between the lines: The spending plan is roughly $1.4 billion less than what Shapiro called for earlier this year.

• Yes, but: Republicans agreed to spend billions of dollars more than they wanted to.

What's inside: Here are the top takeaways from the budget deal:

• 👋 Pennsylvania will leave the Regional Greenhouse Gas Initiative, a multi-state, cap-and-trade agreement that limits carbon emissions.
• 💵 A new state tax credit will support low- and moderate-income individuals, equal to 10% of the federal Earned Income Tax Credit they qualify for.
• 🏫 Roughly $565 million in new funding is allocated to historically underfunded school districts, including Philly.

What's not inside:

• 🌿 Legalizing recreational marijuana didn't happen again, which could have brought in new revenue ahead of a looming budget crisis in the state.
• No taxes on so-called skill games.
• 🚇 No boost in mass transit funding for agencies like SEPTA, which was a massive sticking point for Democrats earlier this year.
• 😡 The state minimum wage remains unchanged at $7.25 an hour.