Ga. Revenues continue to slide - WALB.com, Albany News, Weather, Sports

Ga. Revenues continue to slide

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September 14, 2008

ATLANTA (AP) - Georgia's economy continues to sputter.

Gov. Sonny Perdue reported Friday that state revenues tumbled again in August, down 7 percent from the same month the year before.

For the fiscal year that started July 1, tax collections are down 6.8 percent - or more than $180 million.

Perdue has ordered state agencies to trim spending by 6 percent but also to come up with plans for even steeper cuts of 8 and 10 percent.

He said Friday its unclear if the state has hit the bottom of the economic downturn.

And cuts deeper than 6 percent might be necessary. Most revenue streams are down sharply in Georgia including sales, income and corporate taxes.  

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