Current state budget is not prepared for possible economic downfalls

6 months 1 week 2 days ago Thursday, February 08 2018 Feb 8, 2018 Thursday, February 08, 2018 3:45:00 PM CST February 08, 2018 in Continuous News
By: Eric Graves, KOMU 8 Reporter
loading

JEFFERSON CITY - State Auditor Nicole Galloway said Thursday that Missouri’s budget is not stable and when there are future economic "bumps in the road" Missouri is not prepared.

The 22 page report called "The State Budget Stress Test" is the culmination of almost a years worth of work since Galloway started back in March of 2017.

The report finds that the government funding relies more than ever on the individual taxpayer, this creates increasing instability as the state continues to struggle to fulfill its duties.

“Today more than ever, individual taxpayers are left footing the bill for the government.”

Galloway said that due to these facts and years of decisions based on unrealistic expectations the government is not prepared for an economic downturn and this could mean large cuts to important departments.

Galloway also focused on Missouri families during her speech describing the real struggle they are going through right now.

“The reality is a family of four is paying higher property tax rates to support their kids' schools, shelling out higher sales taxes on their newborn's diapers, and having more difficult conversations around the dinner table about how to pay for their teenager's college tuition."

Over the last year Galloway has tracked policy decisions that have impacted Missouri families, these include a lack of monitoring of state legal spending, hundreds of sales tax exemptions not being tracked and tax credit liability.

“The situation we find ourselves in is because of current and past administrations and current and past legislators,” Galloway said.

Individual income tax revenue already comprises 70 percent of general revenue and that number is increasing.

Galloway also called out Gov. Greitens and said he needs to be honest.

“Our current governor has responsibility to be honest with missourians this starts by admitting that our state does not even have enough cash to pay income tax refunds on time.”

According to the Associated Press, Greitens commented on his plan during a question-and-answer session with the Missouri Press Association Thursday.

Greitens said his plan is revenue neutral and pledged that Missouri won't end up like Kansas. Kansas faced massive financial issues after recent tax cuts.

More News

Grid
List
KANSAS CITY, Mo. (AP) — Kansas and Missouri officials hope to attract the nearly 700 well-paying USDA jobs that are... More >>
34 minutes ago Sunday, August 19 2018 Aug 19, 2018 Sunday, August 19, 2018 12:17:10 PM CDT August 19, 2018 in News
ST. LOUIS (AP) — Prosecutors say they will seek the death penalty for a St. Louis man charged with killing... More >>
1 hour ago Sunday, August 19 2018 Aug 19, 2018 Sunday, August 19, 2018 11:50:00 AM CDT August 19, 2018 in News
ST. LOUIS (AP) — Parts of Missouri are so dry that corn crops are suffering and hay for cattle is... More >>
1 hour ago Sunday, August 19 2018 Aug 19, 2018 Sunday, August 19, 2018 11:44:16 AM CDT August 19, 2018 in News
SEDALIA (AP) — Officials say a worker injured near Sedalia in west-central Missouri has died. The Sedalia Democrat reports... More >>
3 hours ago Sunday, August 19 2018 Aug 19, 2018 Sunday, August 19, 2018 9:01:36 AM CDT August 19, 2018 in News
MILLER COUNTY - The Miller County Sheriff's Office reported that suspected shooter Devin Mckie is in custody after being arrested... More >>
14 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 10:36:00 PM CDT August 18, 2018 in News
BOONVILLE – About 100 people rode their bikes early Saturday to help raise funds for the 43rd annual Missouri River... More >>
22 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 2:23:00 PM CDT August 18, 2018 in News
PLATTE CITY, Mo. (AP) — Sheriff's deputies in northwestern Missouri's Platte County say they've seized more than 200 pounds of... More >>
23 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 1:48:56 PM CDT August 18, 2018 in News
BLACK JACK (AP) — A baby bobcat found in eastern Missouri and being nursed back to health might be mistaken... More >>
23 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 1:42:55 PM CDT August 18, 2018 in News
ST. LOUIS (AP) — Funding cuts to in-home care for the disabled could force some Missouri residents into nursing homes,... More >>
23 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 1:34:39 PM CDT August 18, 2018 in News
COLUMBIA - The North America Diving Dogs dock diving competition was in its second of three days Saturday at the... More >>
23 hours ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 1:01:00 PM CDT August 18, 2018 in News
COLUMBIA - The Columbia Police Department is investigating an attempted burglary of an off-campus sorority house near MU. In... More >>
1 day ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 11:01:00 AM CDT August 18, 2018 in News
MOBERLY - The Moberly Police Department is currently investigating an armed robbery of Break Time North, 1210 East US 24.... More >>
1 day ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 10:18:00 AM CDT August 18, 2018 in News
(CNN) -- New court documents filed in the case of a Colorado man suspected of killing his pregnant wife and... More >>
1 day ago Saturday, August 18 2018 Aug 18, 2018 Saturday, August 18, 2018 12:09:31 AM CDT August 18, 2018 in News
WASHINGTON (AP) — It's not just audiotapes. Omarosa Manigault Newman has a stash of video, emails, text messages and... More >>
1 day ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 10:57:37 PM CDT August 17, 2018 in News
WASHINGTON (AP) — U.S. health officials on Thursday approved a new generic version of EpiPen, the emergency allergy medication that... More >>
1 day ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 8:10:26 PM CDT August 17, 2018 in News
(CNN) -- The bomb used by the Saudi-led coalition in a devastating attack on a school bus in Yemen was... More >>
1 day ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 7:41:13 PM CDT August 17, 2018 in News
(CNN) -- A judge has ordered a mental evaluation for the man accused of starting the Holy Fire that has... More >>
1 day ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 7:14:03 PM CDT August 17, 2018 in News
JEFFERSON CITY (AP) — An ethics panel says there's reason to believe that former Missouri Gov. Eric Greitens broke the... More >>
1 day ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 5:43:44 PM CDT August 17, 2018 in News
Columbia, MO
Broken Clouds 83°
1pm 84°
2pm 85°
3pm 86°
4pm 86°