Luebbering says state will pay back reserves
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Luebbering says state will pay back reserves

Date: April 20, 2009
By: Theo Keith
State Capitol Bureau

Intro: The state's budget director told the House Budget Committee that tax revenues may fall more than expected.

Theo Keith has more from Jefferson City. 

RunTime:0:42
OutCue: SOC

Budget Director Linda Luebbering says this year's projected 4 percent revenue decline is too rosy, as is next year's 1 percent increase.

Luebbering blamed the news on the economic recession, but says the federal stimulus will help.

Actuality:  LUEBB5.WAV
Run Time: 00:13
Description: "So, although the stimulus package will improve things, relatively speaking, the economy itself is probably a little bit further behind where people anticipated it would be at this point in time. So they offset each other."

The state needs the tax revenue to pay back the $325 million it has borrowed from reserves this year.

Luebbering says the state will "absolutely" make the May 15 deadline for paying the money back.

From the State Capitol, I'm Theo Keith, Newsradio 1120 KMOX.