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Pandemic hasn't been as bad as expected to Missouri finances


Pandemic hasn t been as bad as expected to Missouri finances
March 12, 2021
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JEFFERSON CITY, Mo. (AP) A year ago, Gov. Mike Parson and other state leaders were bracing for the worst, acknowledging that the coronavirus pandemic could devastate Missouri s finances.
Fewer people working would mean a reduction in income tax revenue. Business closures would affect sales taxes. Lockdowns would keep people from driving, meaning less in motor fuel taxes.
“Is it going to affect the state? Yes,” Parson, a Republican, said in March 2020.
The pandemic has really hurt the state economy and cost thousands of people their lives or livelihoods, but the St. Louis Post-Dispatch reported Friday that the impact has been so much less damaging than expected that Parson freed up the last chunk of money he had cut from the budget in preparation for tough financial times. Unemployment is at 5.7%, which is far better than many imagined, and the state has be ....

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Missouri Senate leader expects 2022 state budget to be tough, but not as tough as 2023


Missourinet
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/ Missouri Senate leader expects 2022 state budget to be tough, but not as tough as 2023
Missouri Senate leader expects 2022 state budget to be tough, but not as tough as 2023
Missouri’s next state budget year that begins in July is expected to face a revenue decline of about $419 million. Senate Majority Floor Leader Caleb Rowden, R-Columbia, thinks the projection of state revenue is very conservative – for good reason.
Missouri Senate Majority Leader Caleb Rowden, R-Columbia
“I think FY 2022 is bad but not really bad. I think FY 2023 could be really bad,” says Rowden.
He tells Missourinet affiliate KFRU in Columbia that budget leaders are viewing the state’s finances through a two-year lens this time around because the consequences of the COVID-19 pandemic are still playing out. ....

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