April 3, 2012

Tuesday NewsClips

The Senate Appropriations Committee Monday reported out 15 budget bills, including General Fund and Capital Budget bills, to start the budget process.  Majority Committee Chair Sen. Jake Corman  (R-Centre) said the bills reflect Gov. Corbett's $26.7 billion budget proposal.  Sen. Corman said the bills would be reported back to the Committee for further action.
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April 2, 2012

March Revenue Collection $94.7 Million Over Estimates

Pennsylvania collected $4.1 billion in General Fund revenue in March, which was $94.7 million, or 2.4 percent, more than anticipated, Secretary of Revenue Daniel Meuser reported Monday. Fiscal year-to-date General Fund collections total $19.6 billion, which is $386.9 million, or 1.9 percent, below estimate.
            Sales tax receipts totaled $690.6 million for March, $2.7 million above estimate. Year-to-date sales tax collections total $6.5 billion, which is $38.4 million, or 0.6 percent, more than anticipated.
Personal income tax (PIT) revenue in March was $833.6 million, $22.8 million below estimate. This brings year-to-date PIT collections to $7.3 billion, which is $198.1 million, or 2.6 percent, below estimate.
            March corporation tax revenue of $2.3 billion was $105.9 million above estimate. Year-to-date corporation tax collections total $3.6 billion, which is $190.6 million, or 5 percent, below estimate.
Inheritance tax revenue for the month was $76.5 million, $800,000 below estimate, bringing the year-to-date total to $602.1 million, which is $10.3 million, or 1.7 percent, below estimate.
            Realty transfer tax revenue was $20.6 million for March; $2.2 million above estimate, bringing the fiscal-year total to $211.2 million, which is $8.6 million, or 3.9 percent, less than anticipated.
            Other General Fund tax revenue, including cigarette, malt beverage, liquor and table games taxes, totaled $116.1 million for the month, $8.2 million below estimate and bringing the year-to-date total to $1.1 billion, which is $1.3 million, or 0.1 percent, below estimate.
            Non-tax revenue totaled $49.4 million for the month, $15.8 million above estimate, bringing the year-to-date total to $197.7 million, which is $16.4 million, or 7.7 percent, below estimate.
            In addition to the General Fund collections, the Motor License Fund received $200.9 million for the month, $7.9 million below estimate. Fiscal year-to-date collections for the fund – which include the commonly known gas and diesel taxes, as well as other license, fine and fee revenues – total $1.8 billion, which is $200,000 above estimate.

Monday NewsClips

Budget Secretary: It's Up To Lawmakers To Offset Cuts
Op-Ed: Corbett Keeps His Promises On Budget
Editorial: Prevailing Wages, End Them
Op-Ed: Reform State Prevailing Wage Law
House Plans Vote To Shrink Its Size
Legal Experts Debate Impact Of Voter ID
Sen. Vance Opponent Says She's Not Conservative Enough
Maher Hopes To Be First CPA As Auditor General
Do Republicans Now U.S. Senate Candidates?  Hardly
Column: 22 Days Until PA Primary
Santorum: Madonna Is A Democratic Hack
Santorum Calls Out Pollster, Pollster Responds
Orie Case May Affect Sister On Supreme Court
Disabled Target Corbett Administration
Casino Makes High Stakes Appeal Of Assessment
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