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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 This material may not be published, broadcast, rewritten or redistributed.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 97 255 6,360
MORTGAGES 94 260 7,562
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 195 590 13,899
BANKRUPTCIES 67 180 4,754
BUSINESS LICENSES 26 95 2,435
UTILITY CONNECTIONS 54 185 5,081
MARRIAGE LICENSES 12 66 1,526

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