Saturday, April 2, 2011

Revenues Don't Dip as Deep as Expected

Pennsylvania’s March revenue came in below original projections, but not as far as more recent indications. Pennsylvania is still 232 million dollars in the black for the current fiscal year.
Officials had expected March revenue to come in as much as 80 million dollars below projections, according to Senate Appropriations Committee Chairman Jake Corman.
Instead, the Revenue Department’s totals show a 10.5 million dollar deficit.
The Corbett Administration expects a surplus of just under 80 million dollars at the end of June.
If that ends up bigger, there will be pressure to increase next year’s spending above the 27.3 billion dollar figure Governor Corbett insists is his absolute budget ceiling.
March sales and income tax came in ahead of projections. Poor corporate taxes dragged the total below estimates. Pennsylvania has collected 19.2 billion dollars so far this year.

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