PA Built Surplus in April, But Smaller than Hoped

Pennsylvania's state tax collections are running a surplus, but not as big as Governor Tom Corbett had hoped.
April revenue figures released Wednesday mean Corbett's budget plan for the year beginning July 1 is out of balance by as much as $165-million. Lawmakers say April collections added $31.6-million to the fiscal year's surplus. That boosts it to $67.1-million with just two months left in the fiscal year.
But Corbett's $28.4-billion budget plan for the 2013-14 fiscal year relies on a $232-million surplus to balance. Corbett's budget would boost spending by nearly 3-percent while increasing support for public schools by $90-million, cutting business taxes by more than $330-million and counting on the Legislature to adopt long-term changes to public pensions.

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Locations : Pennsylvania
People : Tom Corbett
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