The $6.8 million tax revenue shortfall for January was more bad budget news. It means the state has an even bigger budget hole to fill this fiscal year and next. It also means that the state has collected less revenue than expected in six of the seven months so far this fiscal year. And recall that the state significantly lowered its revenue forecast in November – yet it still can’t meet the estimates. Of particular concern is that sales tax collections in January were nearly $4 million less than expected, another indication that the state’s economy is struggling. – Phillip Brownlee
Digital Access For Only $0.99
For the most comprehensive local coverage, subscribe today.