April revenue report continues fiscal-year-long slide

April revenue report continues fiscal-year-long slide

Normally one of the strongest months for revenue collections, April’s report from the Department of Revenue showed the Commonwealth once again failed to meet revenue collection estimates, this time falling more than $500 million below estimate.

 

For the fiscal-year-to-date, state General Fund revenue collections are more than $1.2 billion short of estimates.

Monday, May 1, 2017/Author: Jason Gottesman
Categories: News and Views
Revenue Department launches tax amnesty program

Revenue Department launches tax amnesty program

Remember that little corner of the current year’s budget plan that called for $100 million in revenue from a tax amnesty program? Friday, the Department of Revenue announced that the program starts April 21 and will run for a 60-day period ending on June 19, 2017.

Friday, April 21, 2017/Author: Jason Gottesman
Categories: News and Views
Wolf administration announces retirement of Revenue Secretary

Wolf administration announces retirement of Revenue Secretary

Gov. Tom Wolf announced Friday that current Revenue Secretary Eileen McNulty will be retiring from her position effective April 21.

 

Taking her place will be former Revenue Secretary Daniel Hassell, who has been named by the governor as acting secretary.

Friday, March 10, 2017/Author: Jason Gottesman
Categories: News and Views
PA revenue returns continue to fall below estimate

PA revenue returns continue to fall below estimate

The Pennsylvania Department of Revenue Wednesday afternoon announced that General Fund revenue sources continued to come in below estimate, falling shy of January’s anticipated funds by $49.8 million.

 

For the fiscal-year-to-date, revenues are 2.5 percent, or $416.8 million, below estimate.

Thursday, February 2, 2017/Author: Jason Gottesman
Categories: News and Views
IFO revises revenue estimates down

IFO revises revenue estimates down

The Independent Fiscal Office Wednesday released a revised revenue estimate for the current fiscal year, prognosticating that the General Fund will end up with a with $250 million less than they anticipated in their last revenue estimate in November.

Wednesday, January 25, 2017/Author: Jason Gottesman
Categories: News and Views
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