Federal stimulus funds used for Missouri tax refunds
Jefferson City, Mo. – The state of Missouri is using a $250 million in federal economic stimulus money to help pay state income tax refunds.
Gov. Jay Nixon said Thursday that the move is necessary because income and sales tax revenues have fallen even further behind their already negative projections.
Some Missourians have been waiting for their refunds since March.
Nixon's budget director Linda Luebbering said cash flow problems could have forced the state to delay refunds until the new fiscal year starts in July.
But by using federal stimulus money, the Department of Revenue now has a goal to send out the refunds checks by June 8.
The state has a backlog of about $278 million in individual income tax refunds.