Mississippi lawmakers finalize budget for upcoming fiscal year - MSNewsNow.com - Jackson, MS

Mississippi lawmakers finalize budget for upcoming fiscal year

Posted: Updated:

Mississippi lawmakers have now passed the final versions of dozens of general fund budget bills setting a leaner spending plan for state government in the next fiscal year.

Mississippi will have a nearly $5.5 billion budget for the fiscal year that begins July 1st.

That's down significantly from the roughly $6 billion budget the state had at the start of the current year.

Governor Haley Barbour made five rounds of spending cuts since last summer because of anemic tax collections during the economic slump.

The new budget includes $300 million drawn from the state's financial reserves.

But the reserve funds will still have hundreds of millions of dollars left over.

Meantime, the Finance Committee passed a bill that would keep the state Department of Employment Security alive beyond June 30th, which marks the end of the current fiscal year.

That bill now moves to the full Senate for a vote.

Powered by WorldNow