MS Lawmakers expect less spending money in next year’s budget
MISSISSIPPI (AP) – Mississippi lawmakers believe there will be less money to spend in next year’s budget.
In a meeting on November 14, legislators estimated there will be seven point $6 billion available to spend in the general fund, which begins July first.
That’s less than a 1% increase over this year’s numbers.
State Economist Corey Miller said sales tax collections were essentially flat the first four months of the current budget year.
Collections from corporate income taxes have decreased, while collections from the individual income tax and insurance premium taxes have increased.
The estimate is the first step in writing the upcoming budget.
