Keystone Today

The Pennsylvania Department of Revenue announced that the state has collected $319.9 million more than anticipated in the general fund for the month of December’s revenue.

According to a release Jan. 3 by Gov Tom Wolf, this amounts to $4 billion and represents 8.6% more than expected. It has been higher during this year-to-date fiscal year as well, totaling $19.7 billion, 2.6% higher than expected, or $503.1 million.

“Going into 2023, Pennsylvania is in a strong fiscal position,” Wolf said. “Year to date, we are 2.6% above our estimated revenue collections, which means we have $503.1 million in the bank above and beyond what we expected. That’s money that can be used to better support the people of Pennsylvania in the coming year." 

Wolf said that it has been a priority to build up the foundation of Pennsylvania, notably through investing in education and other areas that better the lives of the state’s residents. He said he was proud of the “historic” amount of funds invested in education during his time in office.

“My goal has always been to build a strong foundation for Pennsylvania, so that our government can invest in the things that make Pennsylvanians’ lives better,” Wolf said. “That’s why I’m so proud of the historic $3.7 billion dollar investment I’ve made in education over the past eight years." 

"The strong fiscal foundation that my administration has built will empower the next administration and the General Assembly to continue making life-changing investments in the people of Pennsylvania in the years to come,” he added.

The Motor License Fund also saw higher revenue than anticipated. For the month, the fund received $203 million, $8.2 million above the estimated amount. The fiscal year to date is 1.8% higher than expected, or $25 million, totaling $1.4 billion.

Revenue Secretary Dan Hassell praised the Wolf administration's work with the budget.

“It was only a couple years ago during the early months of the COVID-19 pandemic that we were facing a $3.2 billion shortfall at the close of the 2019-20 fiscal year,” Hassell said. “Fortunately we are facing a much different situation today, and that is very much a testament to the strong fiscal management of Gov. Wolf. Pennsylvanians should be encouraged that we are on such solid financial footing as the governor closes out his [first] term.”