Missouri Revenue Shoots Up In February

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

After a dramatic drop in January, Missouri’s net general revenue collections for February shot up $69 million, or 17.3 percent, compared with the same month last year. State Budget Director Linda Luebbering said the anticipated improved revenue in February influenced Gov. Jay Nixon’s decision to release $132 million withheld from the current budget.

The money is to be used for improvements and repairs for the state Capitol building, as well as other state office space, and state park improvements.

Individual state income taxes were up 6.6 percent compared to a year ago, and state sales taxes were up 7 percent. Overall, state general-revenue collections for the current fiscal year are up 2 percent ($100 million) compared to the same period a year ago. That’s slightly lower than the revised estimate of 2.1 percent used to craft the current budget.

Read more from St. Louis Public Radio/Beacon

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