New Budget Proposal
Jefferson City - Linda Luebbering, the Missouri Budget Director, addressed Governor Nixon's budget proposal focusing on cuts and future spending.
"With this proposal, this budget is balanced, and as long as we get that concensus revenue estimate we should be balanced and we should be able to move forward," Luebbering said.
An $89 million reduction will be in effect for 4-year colleges and universities, while the government looks to raise $64 million in additional debt collections and other revenue efficiencies.
There will be a priority on stable funding for K-12 transportation with a $99.8 million fund. With a lot of cuts and a tight budget, Luebbering talked of a bipartisan tax amnesty plan she expects to pass, which would increase the budget by $51.8 million.
Along with number crunching, Luebbering said the unemployment rate is the lowest its been in three years, and the fiscal year 2013 concensus revenue estimate assumes a growth rate of 3.9 percent in general revenue.
Jay Hardenbrook of Public Affairs for the Missouri Budget Project hopes certain proposals can help improve the budget.
"One of the best things we can do to expand our economy to encourage economic growth in the next year is to pass the Marketplace Fairness Act. It's something people have been talking about," Hardenbrook said.
The Marketplace Fairness Act gives states broad authority to require online sellers like Amazon collect and remit state sales taxes so online and storefront retailers all operate under the same rules.
The Missouri Budget project will start looking at the new budget proposal starting Wednesday.