Tax revenue collections in Pennsylvania for last month came in lower than expected, leaving the commonwealth’s revenue 1.3 percent below estimates.
The latest report bolsters arguments from Republican lawmakers that they shouldn’t rush to increase funding over preliminary state budget proposals just because revenue collections in March and April came in strong.
Though no single tax revenue category in May was hugely above or below estimate, the figures are still $330 million lower than expected for the year-to-date, says Department of Revenue spokeswoman Elizabeth Brassell.
She does acknowledge the numbers are a whole lot better than earlier predictions of a year-end deficit of roughly $719 million.
“We’re happy that the deficit is less than we predicted in February,” Brassell said. “But, at this point, we’re not looking to revise any deficit numbers until later in the process.”
The state’s Independent Fiscal Office will release an additional estimate of the full year’s revenue by June 15.
The Senate Majority Leader Dominic Pileggi, R-Delaware, has said it will provide “another data point” to inform the state budget process — if a spending plan is not completed by then.