Pennsylvania Budget Blues Get Bluer
HARRISBURG, Pa. (CBS) -- The bad news just keeps on coming on the revenue side of Pennsylvania's widening budget gap.
Pennsylvania revenues have been running below estimate all fiscal year long, but April, normally a big month for collections, takes the proverbial cake.
April collections were off by well over half a billion dollars, or 13.5 percent below projections. Sales tax collections for April were off by $58 million and personal income tax collections were off by more than $181 million.
Corporate tax collections were off a whopping $227 million, but one glimmer of good news is that much of that is explained by a new law that shifted the due date for corporate net income taxes from April to May.
But as of the end of April, Pennsylvania's fiscal year-to-date revenue collections are $1.2 billion, or 4.5 percent, below estimate.