March revenue better than expected in Pa.
Pennsylvania’s March revenue came in below projections, but above what state officials expected.
The commonwealth is still $232 million in the black for the current fiscal year.
Officials had expected March revenue to come in as much as $80 million below projections, according to Senate Appropriations Committee Chairman Jake Corman. Instead, the Revenue Department’s totals show a $10.5 million deficit.
The Corbett Administration expects a surplus of just under $80 million at the end of June. If that turns out to be more, there will be pressure to increase next year’s spending above the $27.3 billion Gov. Tom Corbett insists is his absolute ceiling.
March sales and income tax came in ahead of projections. While poor corporate taxes dragged the total below estimates, Pennsylvania has collected $19.2 billion dollars so far this year.
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