State revenue projected to drop in current fiscal year

COLUMBIA, Mo. (KMIZ)

Missouri's general revenue collection is expected to drop in fiscal 2026 compared to the previous year, according to a revenue estimate released by Gov. Mike Kehoe's office on Wednesday.

The estimate projects a 2.1% decrease in general revenue collection compared to the previous fiscal year. Missouri's current fiscal year ends June 30. The release did not detail in which areas collections had lagged.

A governor's office spokesperson was not immediately available to discuss the drop in revenue.

The projection was part of the annual Consensus Revenue Estimate released ahead of the governor's budget plan each year. The estimate projects general revenue growth of 3.8% in fiscal 2027 compared to fiscal 2026.

Kehoe will introduce his budget during the annual State of the State Address on Jan. 13 before the Missouri General Assembly. One of his stated priorities is a plan to phase out income tax.