State keeps piling up the money

The state took in $569.7 million in taxes in March, $400,000 less than the same month last year, but $20.8 million higher than the forecast on which the state budget is set. The monthly report says there were some income tax reporting anomalies that affected March numbers.

The big picture after nine months of the year: Gross revenues are up $380 million over last year and $550 million over the intentionally conservative forecast. The net after mandatory reductions leaves the state with a $549.9 million surplus.

Soon, the legislature has decisions. Tax cuts? More spending on education? Or prisons? Or public safety? Or many other things important to average citizens.

Here’s the full report. (Department of Finance and Administration PDF)

https://arktimes.com/arkansas-blog/2021/04/02/state-keeps-piling-up-the-money