Missouri sales tax takes a plunge
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Missouri sales tax takes a plunge

Date: February 6, 2008
By: Brooke Hasch
State Capitol Bureau

Intro: Several states around the country including Missouri have reported budget problems because of declings  in tax collections. 

Brooke Hasch (HASH)is at the State Capitol with more on the subject.

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 With almost a five percent drop in sales tax collections compared to January of last year, the downturn in sales tax has one democrat suggesting it may reflect problems for the states budget.

Saint Louis senator and Appropraitions committee member, Joan Bray, says the sales tax decrease is not an issue to set aside.

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Description: If we have a decrease in a major source of our general revenue fund we will be looking at serious  problems in the provision of state services.

Bray says this budget's shortfalls came as no surprise though she is very concerned about programs it supports but will not have enough money to fund them.

From Jefferson City, this is Brooke Hasch.

Intro: Missouri's sales tax collections took a plunge during January with a near 5 percent decrease compared to 2007's January sales tax revenue.

Brooke Hasch (HASH) has more on the story in Jefferson City.

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Though the drastic drop may alarm Missouri residents, members from the state budget committee claim there is nothing to worry about.

State Budget director, Republican Larry Schepker says legislators are continually watching the national fiscal budget to make sure Missourians are not affected by any downfalls.

 

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Description: Early indications for February are that it seems to be rebounding and recovering again already.We are on target right now to meet consensus revenue for the current budget we're in for '08. No cutbacks or withholdings are anticipated.

Schepker says this budget is balanced as well as the fiscal budget of 2009.

From the state capitol, this is Brooke Hasch.