Reflecting on the Importance of the State Budget
As we approach the April 15 tax filing deadline, the Senate Appropriations Committee, which I chair, is keeping a close eye on the current level of state revenue. The closer we get to the deadline, the closer we get to seeing a full picture of what we have to work with when finalizing the state operating budget for the next fiscal year.
The budgeting process is a delicate balancing act the Legislature goes through every year. As a conservative, I believe we should be mindful of the amount of tax revenue we are collecting. People should be able to keep as much of their own money as possible, and we certainly want to avoid over-indulging in government spending that isn’t necessary for the public good.
Still, we need to keep in mind that some government services, such as education and infrastructure, are vital to the lives of many Missourians. My personal opinion is that the government should step in to provide services that people aren’t able to provide for themselves. On my own, I wouldn’t be able to build a road from my hometown of Cosby all the way to Jefferson City. It’s necessary for the government to be involved in things like highway construction, where the service wouldn’t otherwise be possible.
By May 10, the General Assembly will give its final approval to a balanced budget for the 2020 fiscal year. Currently, revenues are down from last year; the latest estimate shows we are about $238 million short, year-over-year. We expect this gap to narrow as we approach the April 15 deadline, but we are also being very cautious as we continue developing the budget.
As always, please feel free to call, email or write with your ideas or concerns. My Capitol office number is (573) 751-1415, my email is dan.hegeman@senate.mo.gov and my mailing address is Room 332, State Capitol Building, Jefferson City, MO 65101.