Missouri Revenues Up Since Last Fiscal Year
Missouri tax revenues grew about 3.1 percent since last fiscal year, which is not enough to fund this year's budget. State Budget Director Dan Haug announced that net general revenues increased from 7.4 billion dollars last year to 7.6 billion dollars this year. Missouri Gov. Eric Greitens and his predecessor, Jay Nixon, have made a combined 350 million dollars of spending cuts to offset lower-than-expected revenues. Haug also says the state has repaid 500 million dollars borrowed from a state reserve fund before the May 15th deadline.