In fiscal year 2022, Alabama’s state government collected over $13 billion in total revenue. It marked the fourth straight year that the state has had a revenue surplus of at least $600 million.
The argument that an economic recession is coming, and the state must be fiscally responsible to weather that storm, does not line up with the actions of the legislature over the last four years.
How Alabama should handle its budget surplus continues to fuel speculation about the possibility of the Alabama Legislature instituting tax relief in the upcoming quadrennium.
Monday, in a statement marking the end of the fiscal year, Gov. Kay Ivey teased a possible tax relief plan.
State Sen. Arthur Orr (R-Decatur), the Senate Education Budget Committee chairman, had previously floated the idea of one-time tax rebates.
Thirty-two states have enacted some form of tax relief for citizens in 2022. Missouri is poised to become the 33rd.