Governor Patrick Morrisey says General Revenue Fund collections in January continued to show strong fiscal performance. Revenues totaled $490.8 million, up 2.7% from last year. While slightly below the monthly estimate, year-to-date collections exceeded $3.23 billion—nearly $109 million above expectations and 2.5% higher than last year.
Severance tax collections rose sharply compared to last January, driven by higher coal and natural gas sales and a more than 50% increase in natural gas prices. Personal income, consumer sales, and corporate net income taxes also outperformed estimates, signaling a resilient economy and positioning the state for a potential year-end surplus.