Missouri budget officials are forecasting continued growth in state revenues for the next fiscal year. Governor Jay Nixon and legislative budget leaders said Tuesday they are projecting a 3.1% increase in state revenues for the annual budget that starts July 1.
State officials expect an economic growth rate of 4.8%. But state revenues are expected to rise by just 3.1% because of the continued phase-out of Missouri’s corporate income tax, the loss of one-time funding sources and changes to federal payroll taxes.
