Missouri Revenue Grows But Lags Behind Estimates

Linda Luebbering Photo courtesy of Creative Commons
Missouri Budget Director Linda Luebbering |Photo courtesy of Creative Commons

Missouri state government revenue has grown 2.5 percent since the fiscal year began July 1, thanks to continued increases in individual and corporate income tax collections, plus a bump in sales taxes. The state’s budget for this fiscal year is based on a projected revenue increase of 3.1 percent.

In money terms, as of Oct. 30, the state had collected $60 million more in general revenue for the current fiscal year, compared to a year ago.

The slower growth could become a factor when the General Assembly reconvenes in January because it is likely to become embroiled in a new effort to cut state taxes. The state ended the last fiscal year with a slight surplus, which was used primarily to beef up the state government’s underfunded reserves.

Read more from the St. Louis Beacon

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