Current state budget is not prepared for possible economic downfalls

6 months 1 week 12 hours 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
WASHINGTON (AP) — U.S. health officials on Thursday approved a new generic version of EpiPen, the emergency allergy medication that... More >>
18 minutes 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 >>
47 minutes 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 hour 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 >>
2 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 5:43:44 PM CDT August 17, 2018 in News
JEFFERSON CITY - A community Facebook post on a Jefferson City page said a student got dropped off at the... More >>
3 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 5:22:00 PM CDT August 17, 2018 in News
BRANSON (AP) — A former employee of a southwestern Missouri paddlewheel tourist boat alleges in a lawsuit that he suffered... More >>
3 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 4:36:01 PM CDT August 17, 2018 in News
LINN- Forbes Magazine named State Technical College of Missouri as the third best two-year trade school in the country. ... More >>
4 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 3:44:00 PM CDT August 17, 2018 in News
COLUMBIA (AP) — The Islamic Center of Central Missouri in Columbia is finally moving forward with an expansion project after... More >>
5 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 2:37:00 PM CDT August 17, 2018 in Top Stories
HOLTS SUMMIT - The Daniel Boone Regional Library is a step closer to expanding its reach into Holts Summit. It... More >>
5 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 2:36:00 PM CDT August 17, 2018 in News
JEFFERSON CITY — Charles Juden, director of the Department of Public Safety, will step down at the end of August.... More >>
7 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 12:59:00 PM CDT August 17, 2018 in News
JEFFERSON CITY — Federal prosecutors announced Friday the indictment of a Fulton man for trying to engage in sexual activity... More >>
7 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 12:35:00 PM CDT August 17, 2018 in News
INDEPENDENCE, Mo. (AP) — A 48-year-old Missouri man who stabbed his wife to death while their three children hid in... More >>
10 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 10:12:00 AM CDT August 17, 2018 in News
CAMDENTON, Mo. (AP) — The Missouri State Highway patrol says a 33-year-old man died after he was thrown from a... More >>
12 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 7:45:00 AM CDT August 17, 2018 in News
MOBERLY - The Moberly Police Department responded to an armed robbery at the Break Time convenience store on U.S. Highway... More >>
12 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 7:35:00 AM CDT August 17, 2018 in News
TUSCUMBIA (AP) — The trial of a 59-year-old man facing a capital murder charge in the 1984 death of a... More >>
16 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 4:23:00 AM CDT August 17, 2018 in News
JEFFERSON CITY - Ninety-one people have died in impaired driving accidents so far in 2018. The Missouri Coalition for... More >>
16 hours ago Friday, August 17 2018 Aug 17, 2018 Friday, August 17, 2018 4:00:00 AM CDT August 17, 2018 in News
MOBERLY - A severe thunderstorm brought half-dollar sized hail and hundreds of power outages to Randolph County Thursday evening. ... More >>
22 hours ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 10:05:00 PM CDT August 16, 2018 in News
JEFFERSON CITY - Three Indiana men involved in the armed robbery of a Walgreens pharmacy were indicted Thursday by a... More >>
22 hours ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 9:32:00 PM CDT August 16, 2018 in News
Columbia, MO
Broken Clouds 80°
9pm 79°
10pm 77°
11pm 76°
12am 73°