Current state budget is not prepared for possible economic downfalls

9 months 6 days 17 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
MOBERLY - A pedestrian was struck and killed Thursday night on Highway 63 just south of Moberly, according to crash... More >>
2 hours ago Friday, November 16 2018 Nov 16, 2018 Friday, November 16, 2018 4:49:00 AM CST November 16, 2018 in News
COLUMBIA- Out-of-state vehicles around the University of Missouri are having their license plates stolen. It’s been happening in garages... More >>
12 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:17:00 PM CST November 15, 2018 in News
CENTRALIA - Where would a man celebrating a half century of giving blood go to celebrate? Another blood drive... More >>
13 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:55:00 PM CST November 15, 2018 in News
COLUMBIA- In a meeting this afternoon, Columbia City Manager Mike Matthes, apologized for the confusion surrounding the Columbia Police Department’s... More >>
14 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:17:00 PM CST November 15, 2018 in News
COLUMBIA - A Columbia man is sentenced to 10 years in Federal prison for a 2017 armed bank robbery turned... More >>
14 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:14:00 PM CST November 15, 2018 in Top Stories
JEFFERSON CITY - Jefferson City is looking for a municipal judge to fill a temporary position, starting January 1, 2019.... More >>
14 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 5:13:00 PM CST November 15, 2018 in News
NEW YORK (AP) — Facebook said it's making progress on detecting hate speech, graphic violence and other violations of its... More >>
15 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 3:53:00 PM CST November 15, 2018 in News
COLUMBIA - Employment providers, state agencies and employers serving people with disabilities across the state came together to learn how... More >>
16 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 3:12:00 PM CST November 15, 2018 in News
JEFFERSON CITY - Ceres, the statue that stood on top of the State Capitol for 94 years, touched ground Thursday.... More >>
16 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 2:48:00 PM CST November 15, 2018 in News
JEFFERSON CITY - A bronze statue called Ceres will spend the next year being cleaned and touched up for conservation... More >>
16 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 2:30:00 PM CST November 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — Missouri's unemployment rate has hit a tied record low. Data released Thursday from the... More >>
18 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 12:56:00 PM CST November 15, 2018 in News
MAGALIA, Calif. (AP) — Cool weather helped fire crews gain ground Thursday against the nation's deadliest wildfire in a century,... More >>
19 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 11:52:00 AM CST November 15, 2018 in News
BOONE COUNTY - Two buses carrying students and staff from Our Lady of Lourdes Interparish School was involved in a... More >>
21 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 10:01:00 AM CST November 15, 2018 in Top Stories
COLUMBIA - A judge ordered bond to be revoked Wednesday for a man charged in connection with an alleged conspiracy... More >>
23 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:47:25 AM CST November 15, 2018 in News
HUNTSVILLE - A judge sentenced a Moberly man to 18 years in prison after he pleaded guilty to child sex... More >>
23 hours ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 7:35:37 AM CST November 15, 2018 in News
JEFFERSON CITY - The number of kids in need is growing, according to the only foster care and adoption association... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 6:20:00 AM CST November 15, 2018 in News
JEFFERSON CITY - Ceres, the bronze statue that sits on top of the Capitol Building, will come to ground level... More >>
1 day ago Thursday, November 15 2018 Nov 15, 2018 Thursday, November 15, 2018 6:02:00 AM CST November 15, 2018 in News
MOBERLY - Veterans at Moberly Correctional Center say a program designed to reconnect former servicemen to their military values has... More >>
1 day ago Wednesday, November 14 2018 Nov 14, 2018 Wednesday, November 14, 2018 9:33:00 PM CST November 14, 2018 in News
Columbia, MO
Broken Clouds 35°
8am 33°
9am 35°
10am 38°
11am 40°