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U of I Economist Comments on Revised REC Numbers

Posted: Monday, March 15th, 2010 at 6:48 am
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Iowa’s Revenue Estimating Conference has released a slightly more pessimistic outlook for state tax collections this year. University of Iowa Economist Chuck Whiteman says the revised outlook isn’t dramatically different: about $900,000. Whiteman says his own economic forecasts moved in a similar direction. Whiteman says the past three months of income data and disappointing holiday sales contributed to the decreased revenue expectations.