Missouri revenue is showing some signs of hope
JEFFERSON CITY, Mo. – Lawmakers in Missouri were concerned that state revenue would be lower than anticipated, but the news they received this week was showing a positive trend. Revenue totals are up half-a-percent from the same time last year, according to a new report from the Department of Revenue.
The bulk of the actual increase came in as Missouri residents filed their taxes.
The rate of growth is still less than the 1.7 percent growth state officials expected and based next year’s budget on.
Senate Appropriations Committee chair Dan Hegeman, R – District 12, is encouraged by the new numbers.
“We certainly had some concern on the budget earlier as the revenues still seem to lag, but we continue to think that they will come in, and it’s very enlightening and appealing that they’ve come in now, so we can address some of the needs of the state of Missouri,” Hegeman said.
The increase comes after the recession caused state general funds to drop, according to Missouri Auditor Nicole Galloway. In 2018, she found that government officials were intentionally delaying tax refunds in order to pay off debts after the state revenue was lower than expected.
Hegeman says if state revenue doesn’t continue to increase to meet demands, Governor Parson can us a line item veto.
Information from the Missouri School of Journalism contributed to this report.