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Pennsylvania House of Representa�ves Republican Caucus

Economic Brief State Representa�ve Marguerite Quinn August 2010

July 2010 Revenue Collections Total $1.69 Billion;


Revenues Ahead of July 2009 Collections
Following the first month of the state’s 2010-11 fiscal year
year, General
Fund revenues are ahead of those collected at this �me last year.
TTotal collec�ons for July 2010 were reported at $1.69 Billion.
Compared to the $1.65 Billion collected in July 2009, the state’s
revenues have shown modest growth in the last 12 months.

While the Department of Revenue has cer�fied a revenue es�mate


at $26.7 Billion for the year, a monthly breakdown of projected
revenues is not yet available.

Looking at the General Fund’s two largest revenue genera�ng taxes


(Sale Tax and Personal Income Tax), PIT collec�ons for the month of EMPLOYMENT STATISTICS
July 2010 totaled $637.8 Million and the Sales Tax totaled $756.6 June 2010 Monthly Change
Million. Compared to July 2009, the PIT collec�ons are currently Labor Force 6.437 Million -27,000
about $2 Million behind and the Sales Tax is $21.4 Million ahead.
Unemployment Rate 9.2% Even
Comparing the state’s four revenue collec�on categories for the
General Fund (see chart), only Corpora�on Taxes are currently Total Employment 5.847 Million -25,000
behind the mark set at this point last year.
12-Month Growth
The Department of Revenue’s official es�mate shows General Fund Total Employment -37,000
tax revenue growing by 3 Percent in 2010-11.
Unemployment Rate +1.0

General Fund Revenue REVENUE COLLECTIONS


July 2009 vs. July 2010 July 2009 July 2010

$900,000,000 Corpora�on Taxes Corpora�on Taxes


July-09
July-10
$800,000,000
$87.7 Million $59.4 Million
$700,000,000
Consump�on Taxes Consump�on Taxes
$600,000,000

$817.9 Million $863.1 Million


$500,000,000

$400,000,000
All Other Taxes All Other Taxes

$300,000,000 $732.6 Million $738.0 Million

$200,000,000
Non-Tax Revenue Non-Tax Revenue
$100,000,000
$12.6 Million $32.7 Million
$0
Corporation Taxes Consumption Taxes All Other Taxes Non-Tax Revenue

District Office State Representative Marguerite Quinn Harrisburg Office


(215) 489-2126 www.RepQuinn.net (717) 772-1413