Missouri revenue up 5 percent from last year

Missouri revenue up 5 percent from last year

JEFFERSON CITY, Mo. -- Missouri's revenue is up nearly 5 percent so far this year over last year's collections, and the state's budget chief says that's on pace with Gov. Jay Nixon's spending freezes.

Revenue figures reported Tuesday show net general revenue for January is up 4.1 percent compared with the previous year.

Individual income tax collections rose 6.5 percent from July to January, and 7.1 percent from this month last year.

Budget director Linda Luebbering said the numbers are on pace with revised projections for the year's revenue growth of 4.6 percent, and that spending restrictions will remain in place.

She said about $21.5 million of the $700 million still restricted by the governor will be released in the wake of an unexpected lawsuit settlement.