August 2023 Highlights Total General Fund revenues were $185.3 million, or 6.9%, higher than last year at this time. General Fund tax revenue was $129.1 million, or 4.9%, more than last year. Corporate net income tax collections were $31.3 million, or 20.8%, higher than July 2022 collections. Fiscal Year 2023-24 Revenues Off to a Good […] [Read More]
The Highlights General Fund tax revenues were $90.7 million lower than the monthly estimate in May, the third time in the past five months that tax revenues have failed to meet projections. For the 2022-23 Fiscal Year, Personal Income Tax collections are nearly $400 million below projections. The non-partisan Independent Fiscal Office is projecting General […] [Read More]
The Highlights Tax revenues in April were $15.3 million below estimate, indicating a potential moderation of state revenues. Personal income tax collections were $322 million below estimate – 10% lower than projected. For the 2022-23 Fiscal Year, revenue collections remain $1.2 billion higher than estimates, driven largely by corporation taxes that are nearly 19% above […] [Read More]
The Senate Appropriations Committee concluded three weeks of hearings on the proposed 2023-24 budget Friday with the Office of the Budget and Department of General Services. [Read More]
Public review of the proposed 2023-24 state budget continued Thursday with Senate Appropriations Committee hearings on the budget requests for the Department of Health and Department of Transportation. [Read More]
The Senate Appropriations Committee reviewed the budget request for the Department of Human Services on Wednesday. [Read More]
The need to create jobs and keep young residents in Pennsylvania were among the topics covered in Tuesday’s Senate Appropriations Committee hearings on the budget requests for the Department of Community and Economic Development and Department of Corrections. [Read More]
The Highlights General Fund revenue collections exceeded expectations by $499.4 million in March. For the year, revenue collections are $1.15 billion above estimates. Sales and use tax (SUT) collections were $25 million below estimate and lower than last year’s collections. Closely monitoring these collections for continued weakness could help signify any potential slowing of the […] [Read More]
Declining enrollment and the cost of higher education highlighted Thursday’s Senate Appropriations Committee hearings on the 2023-24 budget requests for state-related universities and the State System of Higher Education. [Read More]
HARRISBURG – The Senate Appropriations Committee reviewed the proposed budget for the Department of Education during a public hearing today. Gov. Josh Shapiro is proposing the largest Basic Education Funding increase in Pennsylvania history – more than $567 million in new state dollars. He did not follow through on his promise to fund Lifeline Scholarships, […] [Read More]
