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Missouri Governor Cuts $450M From New Budget

KSMU Archives
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The Missouri Captiol building in Jefferson City. (Photo credit: jacob_shane via Flickr)

COLUMBIA, Mo. (AP) — Missouri Gov. Mike Parson is cutting hundreds of millions of dollars from the state budget. Parson on Tuesday signed the upcoming fiscal year's budget while cutting close to $450 million in planned spending.

Parson says the cuts are necessary to keep the budget balanced after revenues tanked because of the coronavirus pandemic. Revenues are down 7.4% this fiscal year compared to last year.

Parson could undo the $450 million in cuts if revenues increase unexpectedly in the coming months.