State tax collections exceed forecast, but agencies still face budget cuts
by Associated Press
Published: June 7,2012
ACROSS MISSISSIPPI — Mississippi tax collections are up, but lawmakers say state agencies still might face budget cuts during the 2013 session.
Because of a sluggish economy, Mississippi still hasn’t recovered from the Great Recession. Tax collections remain below where they were during the fiscal year that ended June 30, 2008.
The Northeast Mississippi Daily Journal reports for the first 11 months of the current fiscal year, through May, tax collections were 5.2 percent higher than where experts thought they’d be.
That’s good news.
But House Appropriations Chairman Herb Frierson says unless there’s a huge revenue growth in coming months, legislators will look for cuts because they’re trying to stop propping up the budget with sources of money that are available only a single year at a time.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “State tax collections exceed forecast, but agencies still face budget cuts”
Top Posts & Pages
- PSC unanimously rejects Entergy-ITC proposed merger
- Omega Protein shifting vessels to Mississippi
- IKE TROTTER: There are primary changes in Social Security for 2014
- Company mulling plan to build new pipeline
- Conservator: Schools had too many employees
- Bankrupt Simply Wheelz chooses prevailing bidder for assets
- Study says state sacrificing billions of dollars, 20,000 jobs in refusing Medicaid expansion
- Mars Food to celebrate 35 years in Port City
- Tennessee-based manufacturer sites plant in industrial park