States saw revenues rebound in February. How did dad cope? | Monday morning coffee

Good morning Monday, dear seekers.

Despite last week’s dismal jobs reporthere’s another sign that the economy is slowly returning to pre-pandemic levels: by february, state tax revenues had increased enough that 29 states reported making the same or more revenue just like in the 12 months before the pandemicfresh analysis by Pew Charitable Trusts found.

Using preliminary monthly data compiled by Municipal Institute, the Pew the analysis showed that Idaho led the way among states, receiving 11 percent more tax revenue in February compared to pre-pandemic levels.

Disclaimer: “Total state tax revenues were just 0.01 percent higher in March 2020 through February 2021 compared with the same months a year earlier, according to the institute’s preliminary data, which covers 49 states and is the most up-to-date Pew excellent. “This means that for states, cumulative tax revenues since the beginning of the Covid-19 pandemic have reached pre-pandemic levels for the first time, albeit without taking into account inflation.”

Below are state-by-state highlights and an update on Pennsylvania’s revenue picture as the Republican-controlled General Assembly and Democratic Party Wolf administration start to enter budget season in earnest.

This image requires alt text, but the alt text is currently empty. Add alt text or mark the image as decorative. (Photo via Pew Charitable Trusts)

The Pew study shows, among other things, that:

  • “Tax revenues in 29 states overcame pandemic losses, with the largest harvest gains last year achieved in Idaho (11 percent), Utah (8.7%), Colorado (8.0 percent), South Carolina (7.7%) i South Dakota (7.2%).
  • “Losses continued to outpace gains in at least 18 states, with harvests lagging furthest Alaska (-49.2 percent), Hawaii (-17.4 percent), North Dakota (-10.9%) i Texas (-10.3%). Moreover, tax revenues in January were also delayed Nevada (-10.8%) i New Mexico (-2.5%).
  • “South Dakota is the only state to avoid a loss of accumulated revenue since the start of the pandemic compared to the previous 12 months. Meanwhile, 10 states consistently reported losses: Alaska, Arkansas, Hawaii, Minnesota, Missouri, Nevada, Oklahoma, Oregon, Pennsylvania and Texas. (Nevada the data concerned the entire month of January.)
  • “Among states that overcame early pandemic losses, Idaho in June 2020, it was the first to report a return of accumulated revenues to pre-pandemic levels – after just four months. This happened a month later Colorado, Georgia, Nebraska and Vermont.
  • “Maine, Rhode Island and Virginia Earlier tax revenues were not recovered at mid-year, but all three states are again seeing increases in cumulative revenues compared to the previous year’s collections.
  • “Cumulative tax collections in six states rose enough to offset earlier losses in February for the first time: Ohio (0.1 percent), Illinois (0.1 percent), Iowa (0.2 percent), Massachusetts (0.2 percent), Delaware (0.4%) i New York (0.5%).
  • “Though no monthly tax revenue data was available Wyomingstate property revenue forecast in January projected a 23 percent decline in fiscal 2021 in the two main accounts that fund general operating expenses, following an 18 percent loss in fiscal 2020,” Pew analysis found.
(Getty Images)

As noted above, Pennsylvania was among 10 states that consistently reported revenue losses during the study period Pew data. However, according to the latest data from the state Department of Revenue, there may be cause for encouragement.

The state collected $4 billion in general fund revenue in April, representing $28.2 million, just a percentage point higher than expected, according to Treasury Department data. Total year-to-date collections were $32.7 billion, up $1.3 billion or 4.2 percent from estimates.

Now let’s take a closer look at the numbers: Personal income tax revenues in April were $1.7 billion, nearly $572 million below estimates, which the agency attributes to the extension of tax filing and payment deadlines for 2020. The fresh deadline is May 17, and officials say that they can expect to make up for the lost PIT income during this time. As I noted last weekstates’ personal incomes, fueled by an influx of federal aid, reached a 20-year high in 2020. Pennsylvania was one of nine states where government transfer payments increased by at least 20 percent from the fourth quarter a year ago.

Everyone HOLE the state said April shortfalls were offset by improved corporate income tax ($551.2 million) and sales tax ($1.2 billion) collections, which amounted to $251.8 million and $273.1 million, respectively. above estimates.

“The good news is that Pennsylvania’s economic outlook has improved significantly compared to November, when we produced our monthly revenue estimates, which projected a much slower recovery from the Covid-19 pandemic,” he added. Treasury Secretary Dan Hassell – he said in a statement on May 3. “As of today, we have exceeded our fiscal year estimates by more than $1.3 billion. This is very positive news for two months of the current fiscal year.”

Better prospects are reflected in Pew analysis, with the additional reservation that “a several states with a high percentage of recreation and hospitality jobs and sure energy states can continue to face challenges.”

Pennsylvania State Capitol Building. (Capital-Star photo by Cassie Miller.)

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In the face of gloomy climate forecastsgovernment officials call for a multidimensional approach to combating climate change, Miller AND Stephen Caruso report.

Pittsburghers recently spoke out about the displacement of the city’s black residentsdelivering a stern message to local officials, our partners at Pittsburgh City Document report.

Philadelphia Lower Youth Center has increased its resources for LGBTQ youthand plans to revitalize the Host Homes program for LGBTQ youth, our partners at Philadelphia Gay News report.

Florida Governor Ron DeSantis last week’s mock press conference where he signed a package of fresh voting restrictions is just more evidence of GOP support he is not interested in ruling or majority ruleI argue in a fresh column.

On our comments page Philadelphia Tribune columnist Michael Coard exhausts all the reasons why Black voters we need to take care of this year’s judicial elections. Yes, U.S. Rep. Liz Cheney, R-Wyo.she’s right to oppose the GOP – but don’t forget about her father, the exVeep Dick Cheney dragged the nation into warregular opinion Dick Polman I’m writing. Reducing methane is crucial to protecting the climate and health, and it can pay off – so why don’t more companies do this?AND Duke University – asks the expert.

In Star Capital: New initiative aims to give back to Pennsylvanians with intellectual and developmental disabilities greater access to vaccines. And a federal judge suspends the sentence rescinding the CDC’s nationwide eviction ban.

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talks to crime victims who are against it Philadelphia District Attorney Larry Krasner re-election.
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Here’s your #Harrisburg Instagram of the Day:

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A U.S. Senate committee will take up the wide-ranging bill on Tuesday designed to make voting easier. Roll call has details.

What’s going on.
The state Senate meets today at 1 p.m. Here is an overview of the committee’s events and activities on the day.
9:00, Community of College of Philadelphia: House Democratic Policy Committee
10:00, Capitol steps: Survivors of child sexual abuse demand a two-year retrospective period for civil cases.
10:30. Senate Chamber: Senate Committee on Communications and Technology
11:30, Senate Hall: Senate Education Committee
From the floor: Senate Appropriations Committee

What’s Going On (Naked Political Edition).
17:00:
Party for candidate for state senate Chris Gebhard
17:00:
Party for a candidate for mayor of Pittsburgh Ed Gainey
If you hit both events, give it your all and you’ll lose at least $1,000. It’s unlikely it’s not on the query list Gainey event – ​​but you can still write checks.

You say it’s your birthday.
My best wishes are sent this morning to PennLive/Patriot-News boss, hello Cate Barronwho is celebrating today. Congratulations and have a nice day.

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Monday free hockey link.
WITH NHL.comhere’s a look among the contenders for this year’s Calder Cup. Karolina goalie Alex Nedeljkovic rightfully belongs to them.

And now you’re up to date.

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