Local lawmakers are encouraged by year-end tax receipts which showed revenues up $1.2 billion above last year and $317.8 million over fiscal year predictions.
Those revenues were boosted by a more than 20 percent increase in June, based on the latest revenue report issued Monday, slightly $133 million over last year and $143.8 million more than expected for the month. Senate Vice President Jeff Longbine of Emporia says there were some things to be proud of, especially given the fact that the state has had 11 months of positive growth.
60th District Representative Mark Schreiber of Emporia echoed his colleague’s sentiments, saying it should offer some flexibility to pay down some of the state’s debts.
Revenue Secretary Sam Williams expressed optimism in the report, saying the increase in sales tax collections “shows more retail spending precipitated by wage gains from the federal tax cuts passed into law six months ago.”
The state collected an extra $55.8 million more than last year. For the month, sales tax collections were $6.98 million more than last June, over $10 million more than expectations for the month. Individual income tax also was strong, as fiscal year collections were more than $229 million above predictions for the year and $1.07 billion above last year. For the month, those numbers were slightly over $114 million higher than last June’s receipts.
