Missouri’s governor has announced consensus revenue estimates (CRE) for fiscal year 2022, which is expected to be a tight budget year.
The annual CRE is one of the basic projections used by the governor and legislative leaders in both chambers to prepare for the state operating budget.
Governor Mike Parson (R) says the CRE projects a net decrease of about $419 million in net general revenue collections. Missouri House Budget Committee Chairman Cody Smith, R-Carthage, says Missouri is in the “midst of the most trying economic times in a generation,” emphasizing the importance of a conservative revenue estimate.
“I want to thank Senator Dan Hegeman (of Cosby) and Representative Cody Smith for their hard work and cooperation in developing this revenue estimate,” the governor said, in a written statement. “COVID-19 has had an overwhelming impact on our economy, but we are already making a strong recovery and remain optimistic for the coming year. We look forward to working with the General Assembly this session to create a balanced and responsible budget for the people of Missouri.”
Missouri’s current operating budget is about $38 billion, which includes two supplemental budgets with federal money.
Governor Parson will outline his proposed budget blueprint during his January State of the State Address in Jefferson City.
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