One analyst with the Missouri Budget Project says the Show Me State is in good financial shape, at least for now.
“For the year that just ended in June, we exceeded our revenue estimate by over one billion dollars. And something that’s quite interesting, the cash balance in general fund is somewhere in the neighborhood of $2.3 Billion dollars” says Tom Kruckemeyer.
He tells KRMS News a more typical amount of money for the general fund is around 6-to-7 hundred million dollars “Revenues so far, in the current fiscal year that began July 1st, have been excellent so far. The sales and individual income withholding tax, have both grown very substantially in the first nearly 3 months of the year.”
Kruckemeyer also says he thinks the fuel tax increase beginning Friday will immediately help road and bridge projects around Missouri.
But some people are upset because they didn’t get the chance to vote on that increase passed in the last legislative session.