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VOL. 126 | NO. 24 | Friday, February 04, 2011

Barbour to Miss. Legislature: Don't Drain Cash Reserves

AP

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JACKSON, Miss. (AP) – Mississippi Gov. Haley Barbour says a House budget proposal would spend too much from the state's financial reserves, and he believes that could hurt long-term economic development.

Barbour told a business group Thursday that it's important to keep hundreds of millions of dollars in reserve for the fiscal year that begins July 1.

He says business leaders look for stability in state finances because they don't want to face the possibility of future tax increases.

No tax increases are proposed now, but the Republican governor says Mississippi could put itself in a precarious situation if it depletes its reserves.

Leaders in the Democratic-led House say they're trying to avoid deep cuts in state services.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 43 43 12,074
MORTGAGES 78 78 15,834
FORECLOSURE NOTICES 0 0 3,130
BUILDING PERMITS 0 0 28,832
BANKRUPTCIES 97 97 11,768
BUSINESS LICENSES 18 18 4,292
UTILITY CONNECTIONS 190 190 17,922
MARRIAGE LICENSES 43 43 3,711

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