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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 This material may not be published, broadcast, rewritten or redistributed.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 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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