Democratic Governor Jay Nixon has released just over half of the 400 million dollars he withheld earlier this year from Missouri’s current state budget. 215-million dollars will be divvied up among K-through-12 schools, higher education, mental health programs and specific programs for training health care professional in southwest Missouri. Nixon released the money Thursday after Republican lawmakers on Wednesday failed to override his veto of a controversial tax cut bill.
The University of Missouri System Board of Curators approved its 2014 budget Friday. UM System President Tim Wolfe says the budget identifies strategic areas for funding to help strengthen the university brand.
Democratic Governor Jay Nixon on Wednesday warned Republican lawmakers that he’ll lay off state workers if full funding isn’t restored to the budget for the Missouri Department of Revenue’s Motor Vehicles division.
Missouri's finances could take a $60 million annual hit because of a recent 2 percentage point increase in federal Social Security payroll taxes.
State budget director Linda Luebbering says the lost revenues resulting from the federal Social Security tax already had been taken into consideration for budget projections. She says the reduced revenue should not come as a surprise to state officials.
The Social Security tax reverted to 6.2 percent this month after the expiration of a 2 percentage point cut that had been in place for a couple of years.