As we mentioned, Scott Detrow will be reporting later today on Governor Rendell’s update on the state budget. The briefing will be one of Rendell’s last opportunities to talk about the budget, as he leaves office in about a month. It’s not completely clear what he’ll say, but here’s what we know.
At the end of November, the state Revenue Department reported tax collections were running slightly ahead of projections.
Sales tax revenue for the first five months of the fiscal year totaled $3.5 billion, exceeding estimates by two percent. Personal income tax collections were $3.6 billion, or two percent shy of projections.
Republican Gov.-elect Tom Corbett has vowed to balance next year’s budget without a tax increase, even though the likely loss of federal stimulus money and rising public pension costs are expected to leave a shortfall totaling billions of dollars.
Tune in to WHYY-FM for Scott’s report this afternoon during All Things Considered.