Gets More Bad Budget News in April
(AP) — Pennsylvania's tax collections in the all-important month of April are
lagging badly, and it's threatening to knock Gov. Tom Corbett's election-year
budget proposal out of balance.
met with top Republican lawmakers Tuesday evening but declined to say how he
might address a shortfall.
and Senate Appropriations officials say April tax collections are now so far
behind projections that the only question is how severe the shortfall will be.
Appropriations Committee Chairman Jake Corman says he expects a big enough
shortfall to put Corbett's $29.4 billion budget proposal out of balance by
about $1 billion.
Rockefeller Institute of Government in New York suggests that states' tax
collections are lagging because taxpayers sold off securities in 2012 to avoid
higher federal tax rates on capital gains in 2013.