The state's revenue is up for a fourth-straight month. Fresh numbers from the Governor's office show net revenue collections for September were $1,449,825,000 compared to $1,371,956,000 for September of 2009. It represents an increase of 5.7 percent.
This follows the better tax collections of 3.8 percent in June, 4.7 percent in July, and 12.7 percent in August. However, the August numbers were boosted artificially by not having delayed tax refunds dragging down collections as they did in 2009.
But in comments earlier this week, Senate Appropriations Committee Chairman Jack Hill says there’s still a problem facing lawmakers when they begin work on the 2012 fiscal budget.
“Our job growth has lagged...our personal income growth has lagged...we’ve been reduced. We’ve got some structural problems. Whether we can solve them or not or just recognize them may be all we can do. We definitely still will have budget cuts this year...there’s no doubt.”
And Hill says those additional cuts might be at least 8 percent.
But he also says the work of the tax reform commission is a good way to begin tackling the tough issues.