June State Revenues Down

Gov. Sonny Perdue says net revenue collections for the month of June dropped by 15.7 percent from the same month a year ago. The governor says that for the fiscal year, the decline was 10.5 percent. Figures released by the governor's office show revenues for last month of $1,364,350,000 compared with 1,618,879,000 for June 2008, a decrease of more than $250 million. Declines were seen in collections from income tax, sales tax and motor fuel tax. Worsening revenues have forced state agencies to make substantial budget cuts and to furlough workers.

(Associated Press)

Georgia's tax collection spike

Georgia’s tax collections rose seven and a half percent during fiscal year 2006 ending June 30th. That’s more than a billion dollars. It also adds another 400 million to the state rainy day fund. The numbers are bolstering some Republican lawmakers argument that the time is ripe for returning money to taxpayers.