Missouri Revenue Drops Nearly 10 Percent In January

Linda Luebbering Photo courtesy of Creative Commons
Linda Luebbering |Photo courtesy of Creative Commons

Missouri’s general revenue declined 9.5 percent in January compared with the same month last year, and sales tax collection declined 9.6 percent. The newer, lower numbers also come as Republican leaders in the Missouri General Assembly are considering several tax-cut proposals.

State Budget Director Linda Luebbering said poor weather in January may have contributed to the sharp decline, and she expects the pace to “pick up steam.”

Revenue for the first seven months of the fiscal year is up only 0.7 percent compared to the revenue collected at the same point in 2013. The state’s budget hinges on an increase of 2.1 percent for this fiscal year, which runs through June 30. The state constitution requires that the budget be balanced by the end of the fiscal year. So far, Gov, Jay Nixon hasn’t signaled any plans to withhold budgeted money, which he has done in earlier years when it became necessary.

Read more from St. Louis Public Radio

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