Pennsylvania is looking at a substantial surplus in revenue for this fiscal year.
April saw a record amount of tax money collected, as the state brought in over $6.5 billion in revenue. That’s 39 percent more than estimated.
For the fiscal year as a whole, Pennsylvania has general fund revenues above $40 billion—which translates into a budget surplus of $4.5 billion.
Governor Wolf says the record revenue gives the state an opportunity to enact his proposal for a reduction in local and corporate taxes.
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