JEFFERSON CITY, Mo. (AP) – A new report shows Missouri tax revenues are growing more slowly than needed to meet the state budget.
Figures released Wednesday by the state Office of Administration show net general revenues are up 2.2 percent through the first half of the 2017 fiscal year when compared with the same point the previous year.
That’s well short of the roughly 7 percent growth rate that would be necessary to fully fund the budget.
Democratic Gov. Jay Nixon already has blocked about $200 million of budgeted spending.
Republican Gov.-elect Eric Greitens has indicated he will make more spending cuts after taking office next Monday.
Missouri’s 2017 fiscal year began in July 2016 and runs through the end of this June.