State tax collection in February, March falls $11 million short of projections
April 11, 2016 — 2:14pm
The state's tax collections in February and March totaled $2.41 billion, falling about $11 million short of projections due to a soft economy, the state's budget office reported Monday.
Individual income taxes paid were $995 million, $59 million less than expected for the months of February and March, according to the Minnesota Management and Budget office. Corporate tax payments exceeded expectations, netting $374 million.
Economists in recent months have warned that global economic factors are dragging on the U.S. Reports showed that the country's gross domestic product, the value of goods and services produced, were revised downward for the end of 2015.
Minnesota's labor market remains relatively strong, driven by job gains in construction and the service sector.
A Duluth native who just barely lost Virginia's GOP gubernatorial primary said that politicians have not gone far enough in condemning the left for violence during a rally of white nationalists in Charlottesville. "I think that the left is going to try to use this as an excuse to crack down on conservative free speech," said Corey Stewart. "I think they're going to try to use this as an excuse to remove more historical monuments."