Lobbyist Report
By Robin Ross

The Pennsylvania Independent Fiscal Office issued its revenue predictions for the remainder of this fiscal year and next year. The report stated that the revenue surplus of $230 million predicted in the Governor’s 2011/2012 budget will not be achieved. Further, they predict that there will be a revenue short fall of $520 million for next fiscal year. That means that the Governor and the General Assembly will have to cut state spending from current levels by $520 million or raise taxes to balance next year’s budget. I am optimistic that the film tax credit will not be cut, but my hope that it’s cap will be raised are fading. Poor sales tax receipts seem to be the problem. Let’s hope that revenue ticks up over the next several months.