October 1, 2009
STATEMENT OF GOVERNOR HALEY BARBOUR
"As we now know, September tax collections fell short of estimates by more than $44.9 million, or 10.16 percent; for the first three months of Fiscal Year 2010, total collections are $83.2 million, or 7.68 percent, below estimates.
"By comparison, total collections for July to September 2009 are $128 million less than collections for July to September 2008. This amounts to an approximately 12 percent decline from last year. And, this number includes $23 million more in tobacco tax revenue year to date in FY 2010.
"These dismal facts reinforce what I said earlier. It is likely that more spending cuts will be necessary in this fiscal year to ensure a balanced state budget. The fact that state law will not permit me to cut any agency more than 5 percent until every agency is cut at least 5 percent may present some additional challenges."