Posts Tagged ‘spending’

Bryant’s budget proposal includes income tax cut

JACKSON — Gov. Phil Bryant wants to cut income taxes for low-earning Mississippians as part of his 2016 budget proposal. Bryant, a Republican, said today that he’s seeking a $78.7 million tax cut for families earning less than $50,000 a year. It’s the centerpiece of his spending plan for the 2016 budget year, which begins […] [...]

Bryant to unveil state budget plan for next year

JACKSON — Republican Gov. Phil Bryant is releasing his Mississippi budget blueprint for the coming year. He is expected propose setting aside money for the second year of a teacher pay raise that he approved earlier this year. He’s also expected to propose funding a new program that would help with workforce training in community […] [...]

Legislators expect a 3 percent spending increase next year

JACKSON — Top Mississippi lawmakers said yesterday they expect a 3 percent increase in state spending during the coming year, reflecting a prediction of modest growth in the state economy. That’s stronger than the 1.1 percent revenue growth rate for the current year over last year, but weaker than the roughly 5.5 percent growth during […] [...]

Department of Mental Health doesn’t ask for more state funding

JACKSON — Mississippi’s Department of Mental Health says it can use money it already has to comply with pledges to federal authorities to create more community living spots and spend more on housing. Yesterday, the department told lawmakers it doesn’t need more state money in the budget beginning July 1. The U.S. Department of Justice […] [...]

S&P: State in top 10 in U.S. in sales tax dependency

ACROSS MISSISSIPPI — Mississippi is one of 10 states most reliant on sales taxes as a share of revenue, according to a new Standard & Poor’s report that says that such states may be particularly susceptible to an ever-widening income gap dragging down state tax revenues. Analysts with the credit rating agency believe rising inequality […] [...]

Biloxi mayor vetoes proposed budget; city council to take up issue

BILOXI — Mayor A.J. Holloway says he vetoed the fiscal year 2014-15 budget adopted by the Biloxi City Council because it provides a spending reserve of only $56,000. Holloway said yesterday that such a low amount would put the city’s credit rating at risk. Biloxi Council President Kenny Glavan said the council will take the […] [...]

NRF downgrades retail sales forecast after sluggish start to 2014

WASHINGTON — The National Retail Federation has lowered its retail sales forecast for 2014 because of slow growth recorded during the first half of the year, but said sales are expected to grow significantly faster over the next five months. NRF forecasted in January that retail sales would grow 4.1 percent in 2014 over 2013, […] [...]

NRF: Retail sales increased nationwide in most categories

WASHINGTON — Warmer spring weather spurred continued consumer spending and activity this March. According to the National Retail Federation, March retail sales, which exclude automobiles, gas stations and restaurants, increased 0.8 percent adjusted month-to-month and 1.6 percent unadjusted year-over-year. NRF president and CEO Matthew Shay said, “Retail sales increased in most categories and sectors as […] [...]

Report criticizes MDOT’s accounting; says road/bridge funding inadequate

JACKSON — A new report calls for Mississippi’s road-building agency to do more to account for the money it spends, but agrees the state isn’t spending enough money to maintain its roads and bridges. The report, released Friday by a legislative watchdog committee, could figure prominently into the ongoing debate over raising more money for […] [...]

Legislators increase spending estimate; Bryant agrees

JACKSON — Top lawmakers yesterday increased the estimate of how much money Mississippi can spend on state government programs this budget year and next. Members of the Joint Legislative Budget Committee voted to increase the revenue estimate from just under $5.1 billion to just over $5.2 billion for fiscal 2014, which ends June 30. They […] [...]

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