The Joint Committee on Appropriations of the South Dakota legislature got updated revenue numbers today (Monday) which will drive the final budget negotiations to the end of the session.
Jim Terwilliger, with the Bureau of Finance and Management, says they see the worst of the farm income slump ending
Terwilliger says while they predict a rise of over ten percent in this year’s sales taxes, that is due to last to the half cent increase in the sales tax last year
Terwilliger says the state has seen several low growth years in sales taxes
Terwilliger says they are predicting an increase of five percent in next year’s sales tax revenue.
The total revised budget is down about one percent from the Governor’s proposal in December.
(WNAX)