Current:Home > MarketsMississippi state budget is expected to shrink slightly in the coming year-DB Wealth Institute B2 Expert Reviews
Mississippi state budget is expected to shrink slightly in the coming year
View Date:2024-12-23 19:46:39
JACKSON, Miss. (AP) — Budget writers in the Mississippi Legislature will have slightly less money to spend during the coming year than they did in the current one.
Top members of the House and Senate met Friday and set a revenue estimate of $7.6 billion for the year that begins July 1. That is a decrease of 1% from the current year.
The estimate is experts’ best guess of how much money the state will collect, based on economic trends including employment rates and consumer spending patterns.
Legislators are in a four-month session that is scheduled to end in early May. During the next few weeks, they are supposed to finish writing the budget for the coming year, deciding how much to spend on schools, prisons, health care and other services.
Republican Lt. Gov. Delbert Hosemann said Friday that legislators will be prudent with money.
Mississippi is in the process of reducing its personal income tax under a law that Republican Gov. Tate Reeves signed in 2022. In his budget proposal released in February, Reeves said he wants to erase the tax by 2029. Hosemann said Friday that he does not expect movement in that direction this year.
“I can’t speak for the House. But for the Senate side, I don’t think we’re going to have any income tax cuts,” Hosemann told reporters.
It has been months since state agencies submitted the budget requests for the coming year. Legislators rarely give agencies all the money they seek, and House Appropriations Committee Chairman John Read said that’s likely to be the case again this session.
“I’m going to do as much as I can,” said Read, a Republican from Gautier. “We get requests. There’s no way I can do 100% of requests, so I tell people to give me a priority list, and that’s what I go on. We try to help everyone.”
veryGood! (77586)
Related
- Jack Del Rio leaving Wisconsin’s staff after arrest on charge of operating vehicle while intoxicated
- Opinion: Pete Rose knew the Baseball Hall of Fame question would surface when he died
- Naomi Campbell Addresses Rumored Feud With Rihanna
- Dead inmate identified as suspect in 1995 disappearance of 6-year-old Morgan Nick
- Prayers and cheeseburgers? Chiefs have unlikely fuel for inexplicable run
- Alabama now top seed, Kansas State rejoins College Football Playoff bracket projection
- Katy Perry wears zippered bag dress to Balenciaga's Paris Fashion Week show
- Attorney says 120 accusers allege sexual misconduct against Sean ‘Diddy’ Combs
- Chicago Bears will ruin Caleb Williams if they're not careful | Opinion
- As heat rises, California kids are sweltering in schools with no air conditioning
Ranking
- Hurricane-stricken Tampa Bay Rays to play 2025 season at Yankees’ spring training field in Tampa
- Wisconsin Democrats, Republicans pick new presidential electors following 2020 fake electors debacle
- Taylor Swift’s Makeup Artist Lorrie Turk Reveals the Red Lipstick She Wears
- The real women of 'Real Housewives of New York City': Sai, Jessel and Ubah tell all
- Oklahoma school district adding anti-harassment policies after nonbinary teen’s death
- What's next for Simone Biles? A Winter Olympics, maybe
- Adrien Brody Has Iconic Reaction to Kim Kardashian Mistaking Him for Adam Brody
- Virginia school board to pay $575K to a teacher fired for refusing to use trans student’s pronouns
Recommendation
-
A crowd of strangers brought 613 cakes and then set out to eat them
-
Wildfires in California have burned 1 million acres so far this year. Heat wave poses more risk
-
RHONY's Brynn Whitfield Shares Baby Plans and Exact Motherhood Timeline
-
Lady Gaga Details “Amazing Creative Bond” With Fiancé Michael Polansky
-
Mike Tyson vs. Jake Paul VIP fight package costs a whopping $2M. Here's who bought it.
-
Watchdog blasts DEA for not reporting waterboarding, torture by Latin American partners
-
Larry Laughlin, longtime AP bureau chief for northern New England, dies at 75
-
NFL Week 4 overreactions: Rashee Rice injury ends Chiefs’ three-peat hopes?