Pa. tax collections above estimates, but cushion still shrinking

A better-than-expected September put tax collections $75 million above the year-to-date estimate.

 

But revenue came in slightly below expectations in October and November. Now, tax income is just $14 million above projections.

 

Revenue Department spokeswoman Elizabeth Brassell says that, for the most part, income is just what state officials expected it to be.

 

“The revenue collections every month except for September were within less than a half-percent of the estimates,” she says.  “And even in September we were only off by a couple percentage points. So I wouldn’t say that it’s a drastic above or below either way. We’re sort of trending right on where we thought we would be.”

 

Pennsylvania is in a much better place than it was in the last two Decembers.

 

In 2009, revenue was already $217 million below expectations, and in 2008, the state was $658 million in the red.

 

Still, even if revenue finishes the year above projections, lawmakers will likely face a multi-billion dollar deficit, due to expiring stimulus dollars and other factors.