Jackson Jambalaya

Governor Barbour released a revised budget proposal today. Governor Barbour wrote:

I propose spending $5.447 billion in FY 2012, which is $30 million more than
legislators agreed upon in their own budget recommendation in December and
$45 million above my original budget. I do not believe revenue will rebound
significantly in the coming year. My offer to spend $45 million more than I
recommended in the EBR, albeit reluctant, is a significant compromise.

The House has added almost $100 million more revenue since the Legislative
Budget Recommendation was adopted in December, including $68 million in
nonrecurring revenue. The House would spend $475 million in nonrecurring
revenue in FY 2012 and would leave only about $180 million in reserves. The
House also would spend $15 million more in FY 2012 than this year. The House
plan is predicated on hopes, not economic reality.

My plan would reduce nonrecurring revenue spending from the $507 million
originally proposed by the House to $407 million – a $100 million reduction. By spending less now, my plan would leave $231 million in the state’s reserves for my successor and the next Legislature. Saving now allows us to avoid tax increases and drastic cuts later..."