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PA Gets More Bad Budget News in April

April 30, 2014
HARRISBURG (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.

Corbett met with top Republican lawmakers Tuesday evening but declined to say how he might address a shortfall.

House 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.

Senate 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.

The 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.

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