Contact Us

Minnesota Shutdown Slowed Fiscal ’12 Tax Collections

Money
Getty Images

ST. PAUL (AP) – Minnesota’s government shutdown pushed state tax collections below projections for the first two months of the new fiscal year, as the state’s budget office sounds a note of warning about the U.S. economic outlook.

The Minnesota Management and Budget Office reported Friday that net general fund revenues for July and August were $93 million below the February forecast, but said that was largely caused by timing problems attributable to July’s statewide shutdown.

At the same time, MMB’s report reflected growing worries about the state of the U.S. and world economy and the potential effect on state tax collections. It notes the U.S. economy is in a “weakened state” and unlikely to withstand policy mistakes in Washington or Europe.

The next state budget forecast is due to be released in November.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

 

More News from WJON

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://wjon.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on AM 1240 WJON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on AM 1240 WJON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!