If the State of Missouri were to simply maintain funding for services included in last year’s budget, and fully fund the K-12 school funding formula, it would face a $1 billion revenue shortfall in fiscal year 2015, according to an analysis by the Missouri Budget Project. But once tax cuts are fully implemented, to maintain these same services, Missouri will face a nearly $2 billion shortfall.
“Missouri needs to have a real conversation about what it takes to provide the kind of education, infrastructure, and safety net that Missourians need to provide for their families and our communities need to promote their economies,” said Amy Blouin, Executive Director of the Missouri Budget Project. “We can’t cut our way to prosperity.”
The full analysis, Tax Cuts Fling Missouri Toward Massive Budget Cliff, can be found at: http://www.mobudget.org/tax-cuts-fling-missouri-toward-massive-budget-cliff/.