Tagged: Linda Luebbering

While 2013 began just a few days ago, Missouri's Fiscal Year is now half-over, and so far officials say it's been a good one.

The latest numbers from Governor Jay Nixon's Budget Office show a 7.9 percent increase in revenue collections from July to December, as compared to the same 6-month period a year ago. 

At that time, the Show-Me State had collected around $3.49 billion in revenues.  A year later, collections stand at $3.77 billion.  Budget Director Linda Luebbering credits an improved economy.

If officials in Washington don't reach a deal to avert the "fiscal cliff," Missouri could see a hit to its economy and budget.

The Federal Funds Information for States estimates Missouri could lose $1 billion of Defense Department spending on contracts and military institutions if federal spending cuts take effect in the new year. The Washington-based organization estimates those automatic cuts also could result in a $125 million reduction in federal grants to state programs, such as public schools and early childhood programs.