PA Makes its Largest Deposit into its Budgetary Reserve Account in Nearly Two Decades

HARRISBURG, Pa. (AP) — Pennsylvania is making its largest deposit into its budgetary reserve account in nearly two decades. Tuesday’s deposit of $317 million comes after strong corporate and sales tax collections drove the state past its revenue expectations by almost 3%. The 2019-20 fiscal year that began July 1 is projected to be another relatively strong year for tax collections. However, not everything’s rosy. Pennsylvania still had $67 billion in state pension debt and its working-age population is shrinking.