Jefferson City, MO 32° View Live Radar Mon H 70° L 43° Tue H 64° L 36° Wed H 57° L 42° Weather Sponsored By:

Missouri revenue growth lags behind expectations

Missouri revenue growth lags behind expectations

January 9th, 2018 by Associated Press in Missouri News

The Missouri State Capitol is pictured here in August 2017.

Photo by Mikala Compton /News Tribune.

JEFFERSON CITY, Mo. (AP) -- Missouri Gov. Eric Greitens and state legislative budget leaders are projecting that the state will bring in roughly $200 million less in revenue than expected this year.

The revised estimate released Tuesday would represent 1.9 percent growth compared to last fiscal year. That's half of what lawmakers were banking on when they passed this year's budget.

Greitens has already cut roughly $250 million in an attempt to balance the budget.

Greitens and his fellow Republican House and Senate budget leaders also are projecting modest revenue growth of 2.5 percent for the next fiscal year, which begins in July.

That could set Greitens and lawmakers up for some potentially difficult decisions as they start work to craft a spending plan for next year. Greitens has not yet unveiled his budget proposal.