Historical drop in current income for March due to the pandemic
Current revenue collection plummeted in March as a result of the Covid-19 crisis.
Current revenue totaled $421.7 million, a drop of more than 41.5% compared to $720.9 million in the same month of the previous year, and also far from the $741.5 million that had been budgeted.
The historical analysis shows that the crisis has brought tax collection to the level of more than a decade ago. To find a month of March worse than 2020, you have to go back to 2008, when only $358.9 million entered the Treasury.
In the full first quarter, the collection was $1,438 million, which is 11.7% less than the previous year, 2019.