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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 This material may not be published, broadcast, rewritten or redistributed.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 70 134 16,547
MORTGAGES 72 144 21,576
FORECLOSURE NOTICES 9 35 4,301
BUILDING PERMITS 209 209 39,587
BANKRUPTCIES 80 149 15,691
BUSINESS LICENSES 15 28 5,519
UTILITY CONNECTIONS 117 201 23,774
MARRIAGE LICENSES 14 51 5,086

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