From the Northwest Indiana Times:
Indiana's second full month under the administration of Republican Gov. Mike Pence produced the state's worst monthly revenue result in nearly a year.
March state revenue totaled $919.9 million. That's $80 million less than predicted by the December 2012 revenue forecast and a whopping $119.3 million, or 11.5 percent, below what Indiana took in last March.
The most recent larger year-over-year monthly drop was a 17.5 percent decline in May 2012. But that followed greater-than-expected revenue in April 2012 when income tax payments helped beat the prior year by 25.4 percent.
This March, the state's two largest revenue sources, sales and income taxes, both failed to beat their revenue totals for the same month a year ago.
The last time that happened was February 2010 as Indiana was pulling out of the worst of the Great Recession.
Last month's sales tax revenue totaled $521.5 million, which was $12.6 million below expectations and nearly 2 percent less than last March.
Personal income taxes brought in $239.4 million, which was $53 million less than forecast and a 29 percent drop compared to March 2012.
...
http://www.nwitimes.com/news/local/govt-and-politics/weak-march-state-revenue-can-t-top-levels/article_9c3ce32b-03b5-54fa-a873-9d959b72870d.html
