Missouri’s general-revenue income is slightly exceeding projections as the state heads into the second half of its fiscal year, says state budget director Dan Haug.
Haug cites the primary reasons for the increase as an uptick in the state’s individual income tax collections and an increase in revenue from some corporate taxes.
As of this week, the state’s income during the first seven months of the fiscal year has increased 3.4 percent, or $160 million, compared to the same period last year. That’s an increase of about $160 million, and above the 2.8 percent estimate that state officials are counting on to balance this fiscal year’s budget.
The fiscal year ends June 30.
Read more: St. Louis Public Radio