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Tag Archives: budget

Report shows US deficit to exceed $1 trillion next year

The federal budget deficit is expected to balloon to more than $1 trillion in the next fiscal year under the first projections taking into account the big budget deal that President Donald Trump and Congress reached this summer, the Congressional Budget Office reported. The return of $1 trillion annual deficits comes despite Trump’s vow when running for office that he ...

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Hard-won budget, debt deal clears Senate, advances to Trump

A hard-won budget and debt deal easily cleared the Senate on Thursday, powered by President Donald Trump’s endorsement and a bipartisan drive to cement recent spending increases for the Pentagon and domestic agencies. The legislation passed by a 67-28 vote as Trump and his GOP allies relied on lots of Democratic votes to propel it over the finish line. Passage ...

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Analysis: Gambling not a clear-cut state budget booster

Will Mississippi take a chance on a lottery? It’s a big question lawmakers could answer if Republican Gov. Phil Bryant calls them into special session in the next few weeks. Officials are looking for ways to generate about $200 million a year to pay for improvements to highways and bridges. Bryant says he will call a session sometime in August ...

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Analysis: Even modest revenue growth good news for lawmakers

End-of-the year revenue collections suggest Mississippi’s lawmakers could have a little extra money to spend when they return for their election-year session in January 2019. Preliminary numbers released by the Legislative Budget Office show that thanks to strong May and June collections, the state’s General Fund ended $88 million over the level that budget writers had estimated back in the ...

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Budget work completed, session nearing end

The Mississippi Legislature finished work Tuesday on its $6.1 billion budget when legislation passed both chambers to set parameters on the state’s Medicaid program. With the budget completed, only a few items remain to be finished during the 2018 session, which could end as early as today. The state House was holding final passage of the budget for the Division ...

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Downward budget trend could continue in 2018

By BOBBY HARRISON / Daily Journal JACKSON – If preliminary numbers hold, 2018 will mark the third consecutive session where Mississippi legislators cut state spending. The budgets proposed for the upcoming fiscal year by both the Legislative Budget Committee and by Gov. Phil Bryant call for less spending than the budget passed in the 2017 session for the current fiscal ...

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Mississippi lawmakers seek higher reserves, less spending

Top Mississippi lawmakers, seeking to put more money in reserve, propose small cuts for most state agencies in the coming year. The Joint Legislative Budget Committee, meeting Monday, adopted a plan that would cut more than 1 percent from overall state spending in the 2019 budget year, which begins July 1. It would be the second straight decline in state ...

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Analysis: Mississippi budget practices receive mixed grades

A nonpartisan group that evaluates state government budget practices is giving mostly midlevel marks to Mississippi. The Volcker Alliance was formed four years ago by Paul A. Volcker, a former board chairman of the Federal Reserve, with the goal of making government more efficient. The alliance issued a report Nov. 2 called “Truth and Integrity in State Budgeting,” which evaluates all states’ ...

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Small decrease expected for Mississippi budget next year

Mississippi is on track to have a slightly smaller budget in the coming year under a revenue estimate adopted Wednesday, a change that reflects caution about the state’s economy. Top lawmakers approved a projection that the state will have $5.6 billion available to spend during fiscal 2019, which begins July 1. That is $1.5 million less than the estimate for ...

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