Pennsylvania’s Financial Outlook Just Got Better…Again
by Diana Polson and Marc Stier Pennsylvania’s financial outlook for 2022/23 just got better… again! In April 2022, state revenues came in even higher than expected. In March 2022, total revenues were 8.5% higher than they were expected to be at this time of the year, and by the end of April 2022 they rose to 12.4% higher. Our previous estimate, after the Pennsylvania Department of Revenue’s March report, was that Pennsylvania will have a surplus of between $11.2 billion and $12 billion by the end of June 2022. But, as table 2 shows, after April’s rosy financial picture, our updated projection is $13 billion to $15.3 billion. Table 1 Fiscal year collections to date for 2021-22 are now $4.5 billion, or 12.4%, above estimates. If in the last two months of this fiscal year, revenues come in according to the estimates of last June, the state budget surplus will… Continue reading







