Pennsylvania Budget Deficit Reaches $2.8 Billion
The latest report from the PA Department of Revenue, through the end of May, indicate that Pennsylvania’s General Fund revenue shortfall has now reached $2.8 billion for the fiscal year.
This is worse than the administration’s projected shortfall from March, but not as dramatically far off as the April estimate was. The final shortfall for the year should exceded $3 billion, and could be as high as $3.2 billion.
Check back for more from the Commonwealth Foundation tomorrow.