Missouri’s Revenues Continue to Grow From Last Year
Missouri's revenues are up more than 3 percent so far this fiscal year but the state's budget chief says that's not enough to pay for all of Missouri's expenses.
Revenue figures released Tuesday show individual income tax collections are up 5.5 percent and sales tax collections increased 2.6 percent from July through November.
When added to other revenue sources, Missouri's finances grew at 3.7 percent compared with the same period a year earlier.
State budget director Linda Luebbering said the state needs about 11 percent general revenue growth this year to pay for current budgeted expenses.
She says it's unlikely the 11 percent growth rate will be reached by the end of the year but 5 percent might be achievable.