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Pennsylvania Office of the Governor
Governor Rendell Outlines Plan to Close Budget Shortfall
December 28th, 2008
As the weakness in the national economy continues to affect commonwealth revenue collections, Governor Edward G. Rendell today provided a mid-year budget review outlining a plan to address the General Fund shortfall that is projected for the remainder of the 2008-09 fiscal year. "Based on revenue collections through November and current economic forecasts, we are projecting that revenues at the end of the current fiscal year will be below estimate by $1.6 billion," the Governor said at an unprecedented public briefing at the mid-point of the state's fiscal year. "We need to take steps now to adjust our budget while preserving programs that will help speed our economic...
Source: Pharma Investments, Ventures & Law Weekly (2008-12-28)
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