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Virginia Politics
Posted at 02:37 PM ET, 05/12/2011

April revenues in Virginia grow by 1.5 percent as economy rebounds

Revenues in Virginia continued to grow in April, marking a sustained period of recovery for state tax collections.

The state took in 1.5 percent more this April than last, the 13th of the last 14 months to show a year-to-year improvement in state revenues. So far this fiscal year, state revenues have grown 4.5 percent, which means the state is doing better than the 3.5 percent growth predicted by budget analysts.

The April numbers were propelled primarily by income tax and sales tax collections.

In a statement, Gov. Bob McDonnell (R) sounded the same note of cautious optimism he has issued at each monthly report of increased revenues.

“While we have a long way to go before every Virginian can find the good-paying and rewarding job they need and deserve, it is clear that progress is being made.”

By  |  02:37 PM ET, 05/12/2011

 
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