The second month of the fiscal year was another winner for the state treasury.

Gross state revenue in August was $52 million, or 9.7 percent more than forecast. After mandatory deductions, net revenue, on which the budget is based, was $47 million, or 10 percent above forecast.

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For the first two months of the budget year, revenue is $86.1 million, or 9.1 percent,  more than the budget forecast. Surplus, in a word. Key sources of money — the individual income tax and sales tax — both were up strongly compared with last year. The state is sitting on roughly a billion dollars in reserve already.

There’s money aplenty to provide universal pre-K and do other good works. Instead, a tax cut for millionaires is at the top of the governor’s and Republican legislators’ agenda when they reconvene.

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Here’s the full August report

 

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