State revenues miss expectations again
ACROSS MISSISSIPPI — State revenues missed expectations for the 15th consecutive month in November, demonstrating the necessity of major budget reforms and an overhaul of Mississippi government structure, Governor Haley Barbour said.
For the first five months of fiscal year 2010, revenue fell 7.38 percent, or $136.6 million, below expectations. Tax collections for the month of November were 6.88 percent, or $24.8 million, below estimates.
“November’s revenue report is further confirmation of what we have known for months — Mississippi’s state budget will not recover from this recession anytime soon,” Barbour said. “With every passing month, tax collections have fallen lower, and further cuts in the current fiscal year are unavoidable. It also shows we must take real action in the coming legislative session to control spending tightly. This is not business as usual, and budget savings, instead of tax increases, are the answer.”
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Prison-contract task force working in wake of Epps' indictment
- Bryant wants free tuition for students with technical diploma
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Prescott leads field for Conerly Trophy as state's best football player
- Analyst: KiOR Columbus plant may end up sold as scrap
- BILL CRAWFORD: Bryant’s tax cut won’t stop spending growth
- UM Chancellor Jones: Lymphoma treatment going well
- County to ask if it can use unspent hurricane recovery money