Corbett Defends Projection Of Revenue Jump

HARRISBURG (AP) – Gov. Tom Corbett is defending his administration’s projection of a 4% increase in revenue next year, which would be the biggest such increase since the economy began recovering from the recession in 2009. Corbett told WITF‘s Smart Talk program today that his administration is banking on higher economic growth. The current fiscal year is based on a 1.6% increase in revenue. A 4% increase would push the state’s overall tax collections past $30 billion for the first time. On Tuesday, Corbett proposed a $29.4 billion in spending, up more than 3%. In the meantime, this year’s tax collections were slightly behind expectations at the end of January. The rate of job growth in Pennsylvania has also slowed.

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