Tue. Nov 28th, 2023
Unlike the federal government, the Missouri state budget appears to be healthy and in general agreement of the legislature and ready for Gov. Mike Parson’s signature.
That’s according to Tom Kruckemeyer, former Chief Economist for the Missouri Budget Office.
Speaking on the KRMS Morning Magazine he says “The FY 24′ Budget, the one that starts up in July….looks pretty darn good. And most Legislators on both sides of the isle are almost universally pretty happy with it, and I would expect the Governor will be signing it into law without a lot of fanfare.”
The proposed $50-billion budget for Fiscal-2024 reflects continued slowing economic growth and an additional zero-point-1-5 percent reduction down to 4.8 percent to the state’s Individual Income Tax rate.
It’s also based on a forecasted growth of zero-point-7 percent compared to the revised Fiscal Year 2023 estimate.