HARRISBURG, Pa. (AP) — Pennsylvania’s state tax collections are running a surplus, but not as big as Gov. 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.