Missouri revenues up 5 percent from last year

3 years 9 months 1 week ago Tuesday, February 03 2015 Feb 3, 2015 Tuesday, February 03, 2015 2:41:40 PM CST February 03, 2015 in News
By: The Associated Press

JEFFERSON CITY (AP) - Missouri's revenues are up nearly 5 percent so far this year over last year's collections, and the state's budget chief says that's on pace with Gov. Jay Nixon's spending freezes.

Revenue figures reported Tuesday show net general revenues for January are up 4.1 percent compared with the previous year.

Individual income tax collections rose 6.5 percent from July to January, and 7.1 percent from this month last year.

Budget director Linda Luebbering says the numbers are on pace with revised projections for the year's revenue growth of 4.6 percent, and that spending restrictions will remain in place.

She says about $21.5 million of the $700 million still restricted by the governor will be released in the wake of an unexpected lawsuit settlement.

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