$-
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
$3,000,000,000
$3,500,000,000
$4,000,000,000
$4,500,000,000
Pennsylvania House Appropriations Committee
Room 245 Main Capitol ** Harrisburg, PA 17120 ** (717) 787-1711
Economic Brief
Pennsylvania House Appropriations Committee
Rep. Mario J. Civera, Jr., Republican Chairman
November 2009
www.PAStateBudget.com
Pennsylvania General Fund Revenue Collections
Corporation Taxes
Consumption Taxes
Other Taxes
$116.6 Million
$790.7 Million
$807.4 Million
Non-Tax Revenue
$1.80 Billion
$116.1 Million
$817.0 Million
$791.3 Million
$1.81 Billion
October Revenues Fall Short of Projections;
Year-to-Date Shortfall Increases to $160 Million
Actual
Estimate
The state’s new General Fund revenue estimate is $28.57 Billion. This accounts
for the tax increases and reserve fund transfers included as part of the newly
enacted budget. To date, the state is still $160 Million below estimate, which raises
concerns as there are no reserve funds remaining to offset a potential year-end
deficit.
Pennsylvania’s General Fund revenue collections again failed to
meet the Department of Revenue’s monthly projection mark in
October, bringing the current year’s shortfall to $160.2 Million.
The Rendell Administration revised the state’s revenue estimate in
October to reflect changes made as part of the state’s newly enacted
budget, specifically tax increases and reserve fund transfers. The new
General Fund revenue estimate is $28.57 Billion.
October’s collections totaled $3.52 Billion, which was $19.5 Million
less than anticipated. This marked the 18th consecutive month the
state fell short of estimate. It is important to note the total collections
for the month include a $1.7 Billion transfer of revenue into the
General Fund from state’s reserve funds. This is posted as Non-Tax
Revenue.
Despite the overall monthly shortfall, the state’s Personal Income
Tax collections were above estimate in October by $13.7 Million.
Ho