Half-way through the 2009-10 fiscal year, Pennsylvania has recorded a $254.2 million budget deficit.While the red ink isn't flowing as much as it did for the 2008-09 fiscal year, in which the state ran up a $3.25 billion deficit, it appears Gov. Ed Rendell and the Pennsylvania Legislature will be dealing with another deficit when the current fiscal year ends on June 30.
You might be wondering how Gov. Rendell and the Legislature manage to circumvent the Pennsylvania Constitution, which mandates a balanced budget (Article VIII, Section 13 (a) Operating budget appropriations made by the General Assembly shall not exceed the actual and estimated revenues and surplus available in the same fiscal year.) It appears the Constitution is optional with the current leadership in Harrisburg.
The Pennsylvania Department of Revenue on Monday released the December tax collection numbers, showing a deficit for the sixth consecutive month of the current fiscal year.
Pennsylvania collected $2 billion in General Fund revenue in December, which was $37.2 million, or 1.8 percent, less than anticipated, according to Acting Secretary of Revenue C. Daniel Hassell.
Fiscal year-to-date General Fund collections total $12.4 billion, which is $254.2 million, or 2 percent, below estimate, Hassell said.
More from the December revenue report
Sales tax receipts totaled $627.3 million for December, $39.1 million below estimate. Year-to-date sales tax collections total $4 billion, which is $181.1 million, or 4.4 percent, less than anticipated.For more revenue figures, click on the link below:
Personal income tax (PIT) revenue in December was $707.3 million, $6.2 million below estimate. This brings year-to-date PIT collections to $4.3 billion, which is $111.7 million, or 2.5 percent, below estimate.
December corporation tax revenue of $377.1 million was $28.7 million below estimate. Year-to-date corporation tax collections total $1.1 billion, which is $900,000, or 0.1 percent, below estimate.
Other General Fund revenue figures for the month included $74.2 million in inheritance tax, $11.3 million above estimate, bringing the year-to-date total to $375.3 million, which is $6.6 million above estimate.
Realty transfer tax was $29.1 million for December, $7.8 million above estimate, bringing the total to $161.8 million for the year, which is $10 million more than anticipated.
Other General Fund tax revenue, including cigarette, malt beverage and liquor taxes totaled $132.3 million for the month, $13.3 million above estimate and bringing the year-to-date total to $594.7 million, which is $30.2 million above estimate.
Non-tax revenue totaled $36.3 million for the month, $4.5 million above estimate, bringing the year-to-date total to $1.9 billion, which is $7.2 million below estimate.
Pennsylvania Revenue Department Releases December 2009 Collections
Originally posted at TONY PHYRILLAS
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