INDIANAPOLIS, Ind. (WOWO): For the first time since September, Indiana’s revenue collections fell below the most recent estimates. According to the Indiana State Budget Agency, General Fund revenues in April totaled nearly $2.9 billion, which was $3 million below the economic forecast released last month and 14% lower than the same month last year.
The agency told Inside Indiana Business that the figures were partially offset by corporate income taxes and gaming taxes, which were above the monthly estimates. Sales tax collections totaled $875 million last month, nearly $28 million below projections. Individual income tax collections totaled more than $1.5 billion, which is 0.2% lower than the April estimates.
Year-to-date, General Fund revenues totaled $17.2 billion, which is $1.4 million above the April forecast and 1.1% higher than the same period last year. You can connect to the full April 2023 revenue report by clicking here.
3 comments
Maybe creating massive grants to the health department or the teachers union wasn’t a very good or fiscally sound idea???????
These “forecasts” and “projections” sound very similar to how Insurance companies would communicate their losses to the public. I recall Ralph Nader explaining it on the Phil Donahue show. Mr. Nader said the Insurance companies would “project or forecast” profits of, say, 80% increase for the first quarter of the next year. If they only increased 60%, they would put out a news release that they had a 20% loss. How about doing more with less money like the rest of us. That way, we won’t feel like we’re being taxed into oblivion.
More stupidity from our government. Dopey Prince Eric the chinless Wonder of Hoosierville and the clowns int he legislature SPEND SPEND SPEND and then find the income crops. Haven’t you all learned anything by watching the federal stooges and their malfeasance? Worthless and tyrannical grants to the teacher’s unions and the health departments will bring a very band outcome.