Current state budget is not prepared for possible economic downfalls

8 months 1 week 5 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
BOONVILLE - The uncle of the Columbia native who died in a car crash late Saturday night described his nephew... More >>
4 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 9:40:00 PM CDT October 22, 2018 in News
COLUMBIA - Three air conditioning units were stolen from Discovery Church in Northeast Columbia Tuesday night. The pastor of the... More >>
8 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 6:01:00 PM CDT October 22, 2018 in News
JEFFERSON CITY - Governor Parson appointed the new director of the Missouri Medicaid program, filling a permanent position after 22... More >>
8 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 5:40:00 PM CDT October 22, 2018 in News
COLUMBIA - Renee Hoagenson and Vicky Hartzler are running against each other for a seat in the House of Representatives.... More >>
9 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 5:28:00 PM CDT October 22, 2018 in News
COLUMBIA - A poster display regarding sexual orientation and gender identity at Gentry Middle School received mixed reviews from parents... More >>
10 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 4:06:00 PM CDT October 22, 2018 in News
COLUMBIA - Mizzou forward Jontay Porter will miss the entire 2018-19 basketball season after tearing both the ACL and MCL... More >>
10 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 3:40:00 PM CDT October 22, 2018 in News
COLUMBIA - A downtown Columbia restaurant discontinued an Election Day incentive after realizing it could be violating voter laws. ... More >>
11 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 2:39:00 PM CDT October 22, 2018 in News
O'FALLON (AP) — A suburban St. Louis man who has served as a Cub Scout den leader has been charged... More >>
12 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 2:32:00 PM CDT October 22, 2018 in News
(CNN) - The United Nations' drug strategy of the past 10 years has been a failure, according to a major... More >>
12 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 2:17:00 PM CDT October 22, 2018 in News
COLUMBIA - Prosecutors filed charges Monday against the driver of a car which crashed late Saturday, killing one person. ... More >>
13 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 12:49:00 PM CDT October 22, 2018 in News
KANSAS CITY (AP) — The Missouri Republican Party says a miscommunication caused 10,000 voters in the state to receive mailers... More >>
16 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 10:31:00 AM CDT October 22, 2018 in News
JEFFERSON CITY (AP) — The Missouri Supreme Court has allowed an injunction to remain in place against part of... More >>
16 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 9:44:00 AM CDT October 22, 2018 in News
KANSAS CITY (AP) — Police say one person died and three people were injured when an off-duty Kansas City police... More >>
18 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 7:48:00 AM CDT October 22, 2018 in News
COLUMBIA (AP) — Three black trailblazers at the University of Missouri have been honored on the Columbia campus. The... More >>
19 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 7:36:12 AM CDT October 22, 2018 in News
In schools across the country, children begin their day with The Pledge of Allegiance. The Daily Pledge on KOMU 8... More >>
20 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 6:00:00 AM CDT October 22, 2018 in Continuous News
COLUMBIA -The next Mega Millions drawing will take place the night of Oct. 23 at 10 p.m. central time. ... More >>
22 hours ago Monday, October 22 2018 Oct 22, 2018 Monday, October 22, 2018 3:57:00 AM CDT October 22, 2018 in News
COLUMBIA - The University of Missouri's 107th Homecoming has come and gone, but left behind a lot of clean up.... More >>
1 day ago Sunday, October 21 2018 Oct 21, 2018 Sunday, October 21, 2018 10:34:00 PM CDT October 21, 2018 in News
HERMANN - Neighbors in the town of Hermann, Missouri are still grieving after a fatal accident involving a trolley killed... More >>
1 day ago Sunday, October 21 2018 Oct 21, 2018 Sunday, October 21, 2018 10:01:00 PM CDT October 21, 2018 in News
Columbia, MO
Broken Clouds 50°
3am 47°
4am 46°
5am 44°
6am 43°