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Missouri revenues still up close to 5 percent from last year

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JEFFERSON CITY, Mo. (AP) – The state budget director says increases in Missouri’s revenues are holding steady at close to a 5 percent growth from last year.

Budget Director Linda Luebbering on Tuesday reported 4.9 percent growth in general revenue this fiscal year, close to Gov. Jay Nixon’s estimate of 4.6 percent.

Nixon’s used that number to guide spending restrictions on roughly $700 million approved for use by the Legislature last session.

The Tuesday announcement also notes February’s revenues increased 4.4 percent compared to the same time last year.

Individual income tax collections grew 5.6 percent in February and 6.4 percent so far this fiscal year.