Home » News » Politics » State Government
June's revenue figures key in determining if cuts needed
In figures released Tuesday, May revenues were down $3.1 million from budget writers’ estimates, returning $85.8 million.
“It’s still really June we should be paying attention to,” Hodgdon said. “June is still the month we are concerned about with quarterly estimates for business taxes and (interest and dividends payments).”
Legislative budget writers counted on a $26 million surplus in fiscal 2014 to have a balanced budget at the end of the biennium June 30, 2015.
However for the year to date, business taxes have produced $238.4 million, which is $6.7 million below estimates, but $900,000 more than collected a year ago.
At the time, Hassan noted through March the state was $25 million ahead of estimates, but April revenues were $22 million below plan, particularly for business taxes and interest and dividend payments.
Hassan mentioned the possibility lawmakers will be called back into session this summer to approve spending cuts if June revenues are significantly below estimates.
READER COMMENTS: 3
- Another View -- Cass Sunstein: A salute to the graceful silence of George W. Bush - 7
- David Harsanyi : Run, Liz, run! - 16
- Another View -- Bill O'Brien: Ask your state rep. to vote for transparency in the House - 43
- Another View -- Harold Meyerson: The right underestimates Elizabeth Warren's appeal - 39
- Jonah Goldberg: There was a time when we stood up to threats against free speech - 2
- Why I voted against the 'CRomnibus' spending bill - 20
- Another View -- Devon Chaffee: Why interrogators believe America should never torture - 2
- David Harsanyi: GOP establishment, stop whining - 0
- John Stossel: Individual giving beats government giving - 4
READER COMMENTS: 0
- Two Manchester women arrested in separate shoplifting incidents in Hooksett - 1
- Maine police search car belonging to husband of Londonderry shooting victim - 0
- Man arrested after chase, threatening to shoot police in Bow - 0
- Good Samaritan pins Manchester purse snatcher - 0
- Homeless man who saved woman from river: 'I don't consider myself a hero' - 9
- High School Basketball: Rivalries renewed in QCIBT - 0
- Dave D'Onofrio's Patriots Notebook: Will they get everything on their list? - 0
- Tuohy brothers add new restaurant in familiar spot - 0
- New Horizons volunteers deliver groceries and good cheer, making Christmas special - 0
Londonderry schools placed on lockdown after soldier's unplanned visit to high school causes alarm
Police say woman tried to steal 15 iPads