Missouri Budget Spends More Despite Flat Revenues
JEFFERSON CITY (AP) - Missouri's tax revenues have been falling short of expectations. Yet spending is on the rise in the Missouri Legislature.
Legislators this past week approved a $26.4 billion operating budget for the fiscal year that starts in July. It represents a greater than 6 percent increase over the current budget.
Yet state revenues for the current budget year are essentially flat and have fallen short of projections in three of the last four months.
House and Senate budget leaders acknowledge some concern, but they remain hopeful that revenues will still grow enough to fund everything in the budget.
If revenues continue to fall short of projections, it could be up to Gov. Jay Nixon to make budget cuts.