State revenues for April are way above expectations. Representative Scott Bounds says they’re about $207-million above estimates. “That puts us at $799-million above the estimate for the year,” he explained during an appearance on The Gallo Radio Show on SuperTalk Mississippi.
And he doesn’t think it’s all stimulus money. “Corporate income tax was 129% above the estimate. That’s not stimulus, that’s corporations that are driving the economy…paying taxes and making money. Sales tax was up 48% above the estimate. ABC liquor was up 47%.”
Mississippi is primed to receive more than $1.8-billion as part of the American Rescue Plan. State leaders are vowing to allocate the funds wisely and with an eye on the future.
