Halfway into the fiscal year, Mississippi’s revenues continue to come in below estimates.
Preliminary data show state tax collections in December fell short of expectations for the 16th consecutive month.
“Mississippi will continue to face months of revenue shortfalls as the nation’s economy recovers from this global recession,” Barbour wrote Wednesday in a letter to Lt. Gov. Phil Bryant and House Speaker Billy McCoy.
The Joint Legislative Budget Committee has projected a $372 million shortfall by the end of the year, but Barbour said Wednesday that tax collections for November and December indicate the shortfall will be even worse – furthering the need for cuts to the state’s budget.