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Governor: State Revenue May Not Grow Much

February 7, 2008, 1:35 PM

Governor: State Revenue May Not Grow Much
Governor Mike Rounds is urging South Dakota lawmakers to be cautious in spending money because recent economic reports indicate state revenue might not grow much in the next couple of years.

Rounds says recent tax collection reports and economic forecasts show that state revenue is unlikely to exceed projections included in the state budget he proposed in early December.

He says agricultural income is up because of good yields and high prices, but non-farm employment has been dropping.

The governor says sales tax receipts for December were good, but the nation's economic slowdown is expected to have an impact in South Dakota.

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