State estimates 3.4% growth in fiscal 2009 revenue

Blunt, Senate appropriations chair Gary Nodler and House budget chair Allen Icet have agreed on the estimate, which should support the fiscal 2009 budget, according to a news release. The estimate will be used to define the state’s spending priorities for the year. The figure represents a 3.4 percent increase over the previous year.

The state’s general revenue fund is expected to take in more than $7.96 billion for fiscal 2008, a 3.1 percent increase over the previous year.

The state’s fiscal year ends June 30.

The estimates account for job growth, tax cuts, the redirection of some revenues, and ongoing national and international economic indicators, according to the release. While Missouri is on track to set export records this year, risks include a further slowdown in housing and vehicle manufacturing and slower consumer spending.