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Missouri forced to make major cuts

November 16, 2001
By: Julie Kroenig
State Capital Bureau

The State Budget Director announces that Missouri's economic future looks pesimistic. Julie Kroenig has the story in Jefferson City.

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Missouri receives the majority of its income from income tax withholdings.

This amount is up from what it was last year, but is not as high as it was expected to be.

Also, sales tax collections continue to grow, but not as much as was hoped for.

Brian Long, state budget director, says that at these rates, the budget will not balance.

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Contents: I forsee difficult times ahead. We will be 70 million dollars short at the end of the fiscal year. We cannot finish short.

Long says that this is not completely a result of September 11th, the economy was soft before the event.

Holden has prepared his cabinet members for future cuts, which could possibly include state employee layoffs.

From the State Capitol, this is Julie Kroenig.