Georgia budget gap surpasses $850 million as revenues again lag
Tuesday, June 9, 2020
ATLANTA — With a month left in the current budget year, Georgia’s shortfall widened to more than $850 million in May.
Figures released Monday showed less of a decrease for May collections than in April, when revenues fell by more than $1 billion because the income tax deadline was postponed to July.
But revenue still fell sharply, showing a state economy where people and companies are earning less.
People bought less stuff in May than a year ago, including less gasoline and fewer cars, and stayed in fewer hotel rooms. Overall revenue collections were down 10% for the month.