JEFFERSON CITY, Mo. — Missouri’s state budget office said today that net general revenues for the state are up by only 0.2 percent through the first 11 months of the 2014 fiscal year, likely signaling a decrease in the state’s overall revenue for the budget year.
Gov. Jay Nixon’s budget predicted 2.8 percent growth, a number challenged by Republicans in the legislature who wrote a smaller budget, anticipating just 2 percent growth. State sales taxes are actually increased, but Missouri’s individual income tax revenues have shrunk by 0.7 percent.
Should the trends continue, the Republicans will likely have more ammunition to use against Nixon on their 2015 budget, which was smaller than Nixon’s proposed FY2015 budget and directly challenged the Democratic governor’s revenue estimates.
