The state revenue report for July shows a drop of almost 10-percent in tax revenue projections. That follows June which was another down month. The Governor was asked about it this morning.
“The results are inconclusive because the amount we are down, about $19 million was the result of one large income tax refund, so if it hadn’t been for that, we’d of been right on the mark.”
That refund was due to tax breaks for companies that qualified for the breaks because of job creation programs. The Governor continues to say there is no need for a special session.