Missouri governor cuts $450M from new budget
Missouri Gov. Mike Parson is cutting hundreds of millions of dollars from the state budget.
Parson on Tuesday signed the upcoming fiscal year's budget while cutting close to $450 million in planned spending. Parson says the cuts are necessary to keep the budget balanced after revenues tanked because of the coronavirus pandemic.
Revenues are down 7.4% this fiscal year compared to last year. Parson could undo the $450 million in cuts if revenues increase unexpectedly in the coming months.