Skip to content
Home
>
News
>
Revenue collections in May are above...

Revenue collections in May are above estimates . . . again – State GDP growth is 2.5%

By: Sarah Ulmer - June 5, 2018

The Mississippi Joint Legislative Budget Committee has released revenue reports as of May 31

This year has again exceeded lawmakers expectations of revenue collections.

Total collections for the month of May FY2018 are $45,309,420. That’s 10.25% above the sine die revenue estimate.

For the Fiscal YTD revenue collections they are 0.87% above the sine die estimate and for the total YTD revenue collections through May .07% below where they were last year.

The report also showed that unemployment rates in the state and throughout the entire U.S. continue to stay at an all time low. Mississippi increased 0.1 to a 4.6% unemployment rate in April, the national rate at 3.9%, dropping -0.2%.  Also, notable is Mississippi’s GDP, which is growing at a 2.5% annual rate.

“The pro-job, pro-growth policies Republicans have championed are working. Mississippi’s economy is strong and unemployment has reached historic lows because we have reduced taxes and eliminated burdensome regulations. I am grateful to everyone who has worked hard to help us reach this point,” said Gov. Phil Bryant.

 

The figures reflect the amount the actual collections for Sales, Individual, Corporate, Use and Gaming taxes were above or below the estimate for the month and fiscal year-to-date.

The graph also compares fiscal year-to- date actual collections to prior year actual collections, as of May 31, 2018.

 

“Under President Trump, we’re seeing positive economic growth and extremely low unemployment rates nationally, and I believe we’re seeing those effects in Mississippi as well,” said Lt. Gov. Tate Reeves

You can view the full report below: 

FY 2018_ Revenue Report_05-31-2018 by yallpolitics on Scribd

About the Author(s)
author profile image

Sarah Ulmer

Sarah is a Mississippi native, born and raised in Madison. She is a graduate of Mississippi State University, where she studied Communications, with an emphasis in Broadcasting and Journalism. Sarah’s experience spans multiple mediums, including extensive videography with both at home and overseas, broadcasting daily news, and hosting a live radio show. In 2017, Sarah became a member of the Capitol Press Corp in Mississippi and has faithfully covered the decisions being made by leaders on some of the most important issues facing our state.