July Revenue Report Adds To Uncertainty

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Under the cover of Covid, and now in the shadow of the infamous Election Irregularities of that fated 2020 presidential election, with current emerging alleged election fraud in Nevada and Pennsylvania inconveniently slipping into the public discourse, there is proved a colluded ongoing Election Interference in the nomination of the Republican candidate, the likes of which has never occurred in our Constitutional Republic's history, albeit, the question remains: Do you support the plain-sight Election Interference of the Democratic Socialist party, employing its minions in their Propagandistic Media, and their Two Tiered Justice System?

98.85% No, I do not support Election Interference; I am a patriot unto our Constitution.

1.15% Yes, I do support Election Interference; the alternative, Donald Trump, to this mentally diminished president is far worse.

0% "What, me worry" if elections are rigged?

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Published: Monday, September 14th, 2020 @ 4:38 pm
By: John Locke Foundation ( More Entries )

Publisher's Note: This post appears here courtesy of the John Locke Foundation. The author of this post is Joseph Coletti.

    The full picture for 2019 income taxes is now available, but it does not provide much clarity about the revenue picture for the rest of FY2020-21. The latest General Fund Monthly Report from the Office of the State Controller includes the final income tax payments delayed from April.

    Personal income tax payments for July totaled $1.87 billion, nearly double last year's $974 million. Corporate income tax revenue was $170 million, compared to last year's $17.6 million.

    Looking at the four months from April through July 2020 vs the same months last year

Personal income tax revenue: –1% (–$58 million)
Corporate income tax revenue: –10% (–$57 million)
Sales & use tax revenue: –5% (–$156 million)
TOTAL tax revenue: –2% (–$118 million)
TOTAL revenue: –3% (–$316 million)

Despite the year-over-year declines, revenues remain nearly $900 million higher than the same four months in 2018. It is hard to know how much the sales tax was boosted by unemployment benefits and CARES Act payments to families. That is why the August and September revenue reports are so important for the General Assembly to finalize a budget for the current fiscal year.

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