Tagged: Missouri budget

Governor Jay Nixon (D) has signed Missouri’s $23 billion budget for the next fiscal year into law – but he’s also slashed $172 million from the spending plan that takes effect July first.

Nixon says the cuts are needed not only to keep the state budget balanced, but to also help cover storm damage costs.

Nixon to sign budget, Missouri RX bills

Gov. Jay Nixon will sign the 2012 budget for the state of Missouri - and cuts to the $23 billion spending plan are already in the works.

The governor said two weeks ago he would have to cut at least $113 million. Much of that is due to unplanned expenses from the Joplin tornado and flooding in southeast Missouri. More cuts could be necessary as the state is now also responding to floods along the Missouri River in the northwest corner of the state.

Missouri Governor Jay Nixon will shift $25 million from next year’s state budget to help pay for damage in Joplin caused by last weekend’s deadly tornado.

Nixon says he doesn’t yet know which areas of the FY 2012 budget he’ll use to help offset tornado expenses.

“What decisions we have to make because of that to trim the budget and to balance, we’ll make over the coming weeks…if the demands for dollars continue to move up, we clearly have other sources, other ways to get resources,” Nixon said.

Mo. Gov. Jay Nixon says he's confident his office can reach agreement with state House and Senate members over a series of tax breaks - known as "Aerotropolis" - designed to boost St. Louis as a hub for Chinese cargo.