Governor Cuts $51 Million More in Budget
Mississippi’s annual legislation is underway in Jackson. Governor Phil Bryant is cutting another $51 million from the state budget, attributed to lagging state revenues.
Bryant announced the cuts today after slicing $57 million in September to make up for an accounting error. Bryant is also transferring $4 million from the state’s financial reserves for a total budget change of $55 million.
The governor says our state must start following the 98 percent rule, spending no more than 98 percent of the total budget annually. “Because you put that two percent in a rainy day fund and you’re able to save that for times when you need additional revenue. We’ll talk about that and we’ll talk about MAEP, the formula now for funding education. We’ll put that on a system so we know what the outcomes are. We’ll see more graduates, more reading at a third grade level. Things that are important to the student. We’ll put more money in the classroom and not so much in administration. Those are the things we’re talking about now.”
The state’s public school funding formula is exempt from those tax cuts, as are courts and prosecutors, the Mississippi Highway Patrol, and student financial aid.