Republican Gov. Phil Bryant and members of the Joint Legislative Budget Committee met Monday to discuss revenue estimates — the best guess for how much money will be available for state government to spend each year, based on employment numbers and other economic indicators.
They reduced the revenue estimate for fiscal 2016, which ends June 30. And, they set an estimate for fiscal 2017, which begins July 1.
Bryant said he will wait until at least January to see if nearly $65 million in spending cuts will be needed in the current state budget of roughly $6.3 billion. If tax collections increase unexpectedly, cuts might be avoided.