Governor Parson Signs FY 2021 Budget Bills

Today, Governor Mike Parson signed the FY21 budget bills passed by the General Assembly. The total state budget is approximately $35.3 billion, including $10 billion in general revenue. Since taking office, Missouri’s economy and financial health have been of utmost importance to Governor Parson. Last year, the state budget left $100 million on the bottom line in order to respond to any unexpected revenue declines. Governor Parson also proposed to do the same for next year, ensuring another year of responsible state budgeting and savings. However, COVID-19 has severely impacted Missouri’s anticipated economic growth, and the state is now experiencing significant revenue declines. To ensure Missouri is prepared to deal with the economic impacts of COVID-19 going forward, Governor Parson issued vetoes for 17 items totaling nearly $11 million. Governor Parson also announced over $448 million in budget withholds. These restrictions include nearly 150 items across state government. Despite these challenges, Governor Parson’s administration is hopeful that the economy will recover quickly, which may allow for the release of some withholds later in the year. The state also anticipates opportunities in the coming weeks to help offset shortfalls.

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