Missouri revenue up 2.8% compared to last fiscal year

JEFFERSON CITY, Mo. -- Missouri revenue is exceeding expectations, despite dips earlier this year that raised concerns.

Budget director Dan Haug on Friday announced fiscal year-to-date revenue increased by 2.8% as of April. Gov. Mike Parson and lawmakers were banking on a 1.7% increase compared to last fiscal year.

Missouri's fiscal year ends in June.

Revenue was down considerably earlier this year. Budget and revenue officials cited changes to withholding tables that meant employers withheld less from workers' paychecks for income taxes.

That meant employees had to pay a bigger chunk of their taxes in April, instead of in smaller payments throughout the year.

Missouri lawmakers raised concerns taxpayers wouldn't make up the difference in time, which could push Parson to make budget cuts. But revenue appears to be bouncing back.