The state revenue report for May was encouraging for those banking on revenue growth to cover tax cuts and pay for increased spending, corporate welfare handouts and the like.

Gross revenue in May of $427.5 million was $2.2 million, or .5 percent more than last year, but $14.8 million, or 3.6 percent above forecast. The net revenue, after mandatory deductions for certain state agencies, was $40 million above forecast. The sales tax, a good barometer, was up 4.4 percent over last year. There will be a big surplus June 30, with net for the year $40 million ahead of a revised forecast with a month to go.

Advertisement

50 years of fearless reporting and still going strong

Be a part of something bigger and join the fight for truth by subscribing or donating to the Arkansas Times. For 50 years, our progressive, alternative newspaper in Little Rock has been tackling powerful forces through our tough, determined, and feisty journalism. With over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 email subscribers, it's clear that our readers value our commitment to great journalism. But we need your help to do even more. By subscribing or donating – as little as $1 –, you'll not only have access to all of our articles, but you'll also be supporting our efforts to hire more writers and expand our coverage. Take a stand with the Arkansas Times and make a difference with your subscription or donation today.

Previous article Expert questions whether statute of limitations had expired in Duggar case; Fox reveals tack of interview Next article Dumas: The corporate takeover of Arkansas and its new debt burden