State tax collections exceed forecast, but agencies still face budget cuts
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
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Finding a house, defending a neighborhood, finding a voice
- Top 40 Under 40
- Bids on reworking Interstate 55 stretch are rejected
- Terminal upgrade on indefinite hold at Jackson International Airport
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- CFPB wants repay ability at center of new payday loan rules
- MDA to close all its regional offices
- Top 40 Under 40 (digital magazine)