REVENUE ESTIMATES SHOW SOME LEVELING
Current as of January 15, 2009
As noted earlier in the week, the state Board of Economic Advisers met this afternoon to review revenue collection data, including sales tax receipts from the first part of the holiday shopping season.
There was modestly good news, in that there appears to be some leveling off in revenue collections from the sharp drops reported in the Fall. Data from final holiday shopping sales tax receipts is still being collected. For those reasons, the BEA members decided not to make adjustments to its revenue projections at the present time. Their next review will be February 9.
The General Assembly does not plan to be in full session next week as part of its own furlough days, though some committees will be meeting.
We will continue to keep you informed as developments warrant. Meanwhile, thank you for your contributions to the good start to the semester this week.