Michael L. Parson, 57th Governor of Missouri | Missouri Gov. Michael Parson
Michael L. Parson, 57th Governor of Missouri | Missouri Gov. Michael Parson
Today, Governor Mike Parson signed the Fiscal Year 2025 (FY25) state operating and capital improvement budget bills, marking a significant investment in Missouri's workforce development and infrastructure.
"Today, we signed a conservative and balanced budget that focuses on two priorities that we know lift every Missourian up: workforce development and infrastructure," Governor Parson stated. He highlighted strategic investments and responsible spending as key factors in maintaining Missouri's AAA credit rating, achieving the lowest unemployment rate in the state's history, adding 163,000 jobs to the economy, and reducing income tax burdens by over 20 percent.
Governor Parson emphasized infrastructure during his 2024 State of the State Address, urging the General Assembly to invest in projects across Missouri. The FY25 budget includes:
- $1.5 billion for broadband investments in rural areas.
- $577.5 million for Interstate 44 expansion planning.
- $290 million for road and bridge projects within the Statewide Transportation Improvement Program.
- $27 million for upgrading Missouri's airports.
The budget also prioritizes education and workforce development:
- $367.7 million for higher education capital improvements.
- $361.4 million to fully fund school transportation needs.
- $121 million to fully fund the K-12 Foundation Formula.
- $69.3 million for the Career Ladder program.
- $54.4 million for MoExcels projects and employer-driven workforce training.
- $33.4 million for increasing baseline K-12 educator pay through the Teacher Baseline Salary Grant Program.
- $32.5 million core funding increase for state higher education institutions.
- $10 million for semiconductor production research and skills training.
- $4.2 million for Jobs for America's Graduates (JAG-Missouri).
- $3.1 million for Missouri Youth Apprenticeships.
Additionally, early childhood programs received significant support:
- $56 million for Pre-Kindergarten programs in public and charter schools.
- $54.8 million to increase child care subsidy rates.
Governor Parson's commitment to agriculture is reflected in continued support:
- $100 million for low-volume roads in rural areas.
- $11.6 million for improvements at river ports.
- $5 million for flood resiliency efforts along the Missouri River.
- $3.5 million for the Agriculture Resiliency Fund.
State government improvements include:
-$134 million to maintain state facilities.
-$111millionfor a 3.2 percent salary increaseforallstate team membersandadditionalpayincreases forcertainemployeesincarefacilities
-$19millionfortechnologyupgrades
-$8millionforaddressingbehavioralhealthcarestaffingshortages
-$7millionforMaternalMortalityPrevention
The total FY25 state operating budget is approximately$50billionwithGeneralRevenueaccountingfor14billion.GovernorParsonissued173line-itemvetoestotaling1billion."TheuseofthevetopenisnotsomethingIdoeagerly,buttodaythesevetoesrepresenttheeliminationofunnecessarypetprojectsandtheprotectionofthetaxpayerdime,"GovernorParsonsad."Weleaving1billiononthebottomlinebutthatdoesn'tmeanwespendifspending."Healsoreiteratedthatthefundbalancedoesnotequalsurplusastateobligationsmustbeaccountedfortoavoidfuturebudgetarypains."
Missouri is expected to have nearlya6 billion fund balancebyJuly12024.MoredetailscanbefoundintheattachedPDFdocumentaboutMissourifundbalanceandexpenditureplans
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