General Fund net revenue for the month of January 2022 reached a total of $999 million. Compared to January 2021, this is an increase of $157 million, or 18.6%. Total revenue for the fiscal year to date (starting in July 2021) is at $6.26 billion. Compared to the 2021 fiscal year, revenue is up by 4%. Compared to the government’s own revenue projections, there is also a 4.5% increase in revenue.
Act 154 revenue reached a total of $93.7 million. Compared to January 2021, this was an increase of $20 million, or 27.8%. Act 154 revenue for the year to date is $733 million. Compared to fiscal year 2021, this is $69 million lower, or 8.6%.
Sales tax revenue in January was $289 million. Compared to January 2021, this is an increase of $49 million, or 20.5%. Sales tax revenue for the fiscal year to date is at $733 million. This is $155 million higher than in 2021, or 12.5%.
Total revenue has increased significantly since the beginning of the pandemic. The large influx of federal funds has led to higher personal consumption spending, which has in turn provided the local economy with a lifejacket, allowing it to weather the impact of the pandemic.
