Combined state and local government tax receipts rose modestly in the first quarter as the revenue sources most sensitive to swings in the economy picked up along with economic growth.

States and localities collected $299.1 billion in taxes in the first quarter, the Census Bureau reported Tuesday. The 0.82% increase in receipts was the second straight year-over-year perk-up in tax collections, following a full year of declines that at their depths reached double-digits.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.