Missouri revenues up 5 percent, on par with spending freezes

2 years 2 weeks 23 hours ago January 05, 2015 Jan 5, 2015 Monday, January 05 2015 Monday, January 05, 2015 9:13:15 AM CST in News
By: The Associated Press

JEFFERSON CITY (AP) - Missouri's revenues are up more than 5 percent this fiscal year and the state's budget chief says that means the governor will likely not need to further freeze spending.

Revenue figures released Monday show net general revenues for December are up 10.7 percent compared to last year.

Individual income tax collections were up 9.6 percent last month and up 6.3 percent from July through December.

State budget director Linda Luebbering says the bump in December is a sign that people are feeling better about the economy.

Luebbering says the 5.1 percent growth is just shy of the estimated 5.2 percent Gov. Jay Nixon's been using to guide spending restrictions. She says more restrictions likely are unnecessary.

More than $700 million in funds still are frozen.

 

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