Say Anything Blog

Americans for Prosperity has a run-down of the latest tax revenue numbers for North Dakota:

* Individual Income Tax revenues for April 2008 were $33.8 million (45.7%) higher than expected. (28.4% higher than expected for the biennium to date.)
* Corporate Income Tax revenues were $17.8 million (96.6%) higher than expected. (89.6% higher than expected for the biennium to date.)
* Sales Tax revenues for were $9.4 million (27.8%) higher than expected. (10.9% higher than expected for the biennium to date.)
* Motor Vehicle Excise Tax revenues were $1.5 million (31.2%) higher than expected. (19.1% higher than expected for the biennium to date.)
* $30.2 million in April 2008 was added to the Permanent Oil Trust Fund, bring the total deposited in the oil trust fund to just over $127 million with 14 months left in the biennium.

Tax revenues are exploding.  The state treasury is reporting a record-setting balance.  So...why is it again that we can’t cut state income taxes?

Someone needs to ask Governor Hoeven and other state Republicans who are opposing tax cuts that very question.