Updated Pennsylvania Revenue Shortfall Projections
Following an Open Records request, the PA Office of the Budget provided us the their latest projections for General Fund revenue collections. The number for media, lawmakers, and policy nerds to watch for – based on the latest projection of a $2.3 billion shortfall for the year – is a $341 million shortfall for March.
This being the last day of March, the Department of Revenue will have the the latest monthly tax collection information tomorrow. March is the largest month for tax collections each year, and the revenue report will be a huge indicator of how large Pennsylvania’s budget shortfall really is.