Minnesota’s state revenue collections continued to outpace projections in January, with taxpayers kicking in $140 million more than expected for the month.
The state collected $1.8 billion the first month of 2013, with individual income and sales tax revenue both beating projections. The highly volatile corporate income tax did not meet expectations, bringing in $41 million for the month, nearly half of the target.
Minnesotans paid in $1.1 billion in individual income taxes, nearly $137 million more than projected. Consumers paid $490 million in sales taxes, $17.5 million more than expected.
State budget officials are scheduled to release a new economic forecast later this month that legislators will use to craft the next two-year budget. The last forecast, in November, showed the state faces a $1.1 billion projected deficit the next two years.
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After some of the most momentous weeks of his presidency, including court victories on gay marriage and Obamacare and an emotional eulogy for the Rev. Clementa Pinckney, President Barack Obama turned his attention back to an ongoing theme of his presidency: Economic fairness.
While the nation's attention turns to the 2016 presidential race and the ever-growing field of candidates, President Barack Obama will try to drive a message he's been repeating since his first campaign: economic fairness.