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March revenue report

Indiana posted a stronger third quarter of tax revenues than expected this fiscal year, which could have an impact on budget negotiations.

Indiana sales tax revenues actually struggled during the most recent four months of the fiscal year, falling more than $40 million behind the most recent forecast.  But overall revenues were boosted by a surge in individual income tax collections, which came in more than $70 million ahead during that same period.

For the entire fiscal year, the state is $74 million better than predicted levels.  The third quarter numbers come ahead of a new revenue forecast due in the next couple weeks.

House Ways and Means chair Tim Brown (R-Crawfordsville) says the April forecast will be an important point of information, coupled with revenue data from the first segment of 2013.

“We’ll be able to look at in comparison with the December forecast to see if the first quarter has grown appropriately with the way we think it should.”

Senate Appropriations chair Luke Kenley (R-Noblesville) downplayed the significance of the upcoming forecast, noting the Senate budget was prepared having a rough idea of what the forecast will predict.

Brandon Smith is excited to be working for public radio in Indiana. He has previously worked in public radio as a reporter and anchor in mid-Missouri for KBIA Radio out of Columbia. Prior to that, he worked for WSPY Radio in Plano, Illinois as a show host, reporter, producer and anchor. His first job in radio was in another state capitol, in Jefferson City, Missouri, as a reporter for three radio stations around Missouri. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.
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