State revenues continue to exceed expectations

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State revenues for April are way above expectations. Representative Scott Bounds says they’re about $207-million above estimates. “That puts us at $799-million above the estimate for the year,” he explained during an appearance onThe Gallo Radio ShowonSuperTalk Mississippi.

And he doesn’t think it’s all stimulus money. “Corporate income tax was 129% above the estimate. That’s not stimulus, that’s corporations that are driving the economy…paying taxes and making money. Sales tax was up 48% above the estimate. ABC liquor was up 47%.”

Mississippi is primed to receive more than $1.8-billion as part of the American Rescue Plan. State leaders are vowing to allocate the funds wisely and with an eye on the future.

 

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