Pennsylvania Tax Revenues Running $345M Behind Projections

Pennsylvania is only five months into the current fiscal year. If tax revenues do not increase dramatically or the state fails to contain spending, look for a $1 billion-plus budget deficit by next June.

From the Pennsylvania Department of Revenue:

Pennsylvania collected $1.7 billion in General Fund revenue in November, which was $63.3 million, or 3.5 percent, less than anticipated. Fiscal year-to-date General Fund collections total $9.4 billion, which is $345.3 million, or 3.6 percent, below estimate.

Pennsylvania Revenue Department Releases November Collections