Governor Barbour Releases Statement on February Revenue Reports

Governor Barbour released the following statement:

"The State Tax Commission reported today that Mississippi’s revenue collections continued a pattern of decline for the month of February. Preliminary reports show the month’s collections coming in at 12.39 percent, or $33 million, below estimates. This month will be one of the worst – if not the worst – month for tax collections in this fiscal year. Clearly, our state’s economy is still feeling the effects of this deep global recession. It is also the 18th consecutive month revenue has fallen short of expectations, and the 15th consecutive month where less money was collected than the previous year.

“With four months remaining in the fiscal year, it is likely state spending will have to be reduced beyond the $458 million in cuts already made. State law requires a balanced budget, and I will uphold the law.”