Revenue discussions continue as lawmakers work to meet Monday deadline

Revenue discussions continue as lawmakers work to meet Monday deadline

With June 30th coming and going, so goes another month of revenues and the close of the FY 2016-2017 budget year; however, unlike previous months, June’s revenue did come in slightly over estimate.

 

According to figures reported by the Pennsylvania Department of Revenue, the Commonwealth’s General Fund revenues for the month of June came in just more than $11 million over estimate. While major revenue generators like the personal income and sales and use tax were down, the corporate net income tax and inheritance tax outpaced estimates to put the Commonwealth in the black for the month of June.

Wednesday, July 5, 2017/Author: Jason Gottesman
Categories: News and Views
Legislature sends Gov. Wolf $31.99 billion spending plan as revenue discussions heat up

Legislature sends Gov. Wolf $31.99 billion spending plan as revenue discussions heat up

After a day of debate in the Pennsylvania General Assembly, legislators in both chambers voted to send a $31.99 billion FY 2017-2018 spending plan to Gov. Tom Wolf on Friday.

Friday, June 30, 2017/Author: Jason Gottesman
Categories: News and Views
Legislators poised to send Gov. Wolf $31.9 billion spending plan with revenue to follow at some point

Legislators poised to send Gov. Wolf $31.9 billion spending plan with revenue to follow at some point

After a late-night vote in the Senate Appropriations Committee Thursday, members of the General Assembly could send Gov. Tom Wolf a $31.99 billion FY 2017-2018 budget as soon as Friday.

 

That being said, a lot remains up in the air—including how they plan on paying for the spend number.

Thursday, June 29, 2017/Author: Jason Gottesman
Categories: News and Views
As budget deadline nears, a lot remains up in the air

As budget deadline nears, a lot remains up in the air

It’s just about ten days until the traditional budget deadline of June 30/July 1 and as things look on Tuesday, a lot remains on the table to be agreed to.

Tuesday, June 20, 2017/Author: Jason Gottesman
Categories: News and Views
May revenues rosier, but the devil is in the details

May revenues rosier, but the devil is in the details

As expected, General Fund revenues for May 2017 exceeded estimate—by quite a large margin—but as the figures released Thursday revealed: the devil is in the details.

 

Overall, General Fund revenues for the month of May exceeded estimates by $98.5 million, nearly four percent, according to Department of Revenue numbers.

Friday, June 2, 2017/Author: Jason Gottesman
Categories: News and Views
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