The April 5 PA Environment Digest is now available. Click here to print this Digest.
State Budget Deficit Could Be $1 Billion, More Cuts Certain
Sen. Jake Corman (R-Centre) Majority Chair of the Senate Appropriations Committee told a press conference today the state faces a $1 billion budget deficit by the end of June. Confirming his estimate, the Department of Revenue reported March revenues resulted in a deficit of $712 million so far this fiscal year.
He said the lower-than-expected revenues will make it difficult to get a budget done on time.
Sen. Corman said there is no support for an across-the-board tax increase in either the Personal Income or Sales taxes, leaving cutting spending as the only option for bringing the state budget into balance.
He also said he did not see much support for either the Marcellus Shale natural gas production tax or for taxing smokeless tobacco or cigars. Click here to read more….