May 2020 Revenue Update

June 01, 2020 | Revenue & Economic Update

The Commonwealth collected $2.11 billion in General Fund revenues for May, a decline of $510.7 million compared to May 2019. The IFO estimates that the COVID-19 virus reduced monthly collections by $515 million due to the impact of continued business closures and other mitigation efforts to slow the spread of the COVID-19 virus.

Tags: estimates, monthly, revenue

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