Mo. revenue to remain low, despite expected increase
Jefferson City, Mo. – Missouri's tax collections are expected to rise a bit in 2010, but remain well below what they were two years ago.
Both Democratic Governor Jay Nixon and GOP legislative leaders agree on the latest numbers. They estimate that state revenue collections will rise by about 3.6 percent after July first, but will still be about $780 million less than they were in 2008.
Linda Luebbering, the governor's Budget Director, says cuts will still be necessary.
"Obviously, there are some things that the governor and the legislature believe are higher priorities, and they're going to work to protect those areas, but it's too early to know precisely what will happen in those areas," Luebbering said.
Officials also estimate that the state will collect about $500 million less in revenue during the current fiscal year, which ends in June, than it did in 2009.