Missouri Economy Continues to Prosper

Rep. Bob Onder (R-Lake St. Louis) sends this good news from the Missouri capital:

Missouri Economy Continues to Prosper

Jefferson City – The most recent State revenue numbers reported by the Missouri Department of Revenue indicate that the State’s economy is growing at a pace faster than predicted. June 30th marked the end of the 2007 fiscal year and one of the highest net growth months all year with an 8.2% growth rate. The net general revenue growth rate for the year came in at 5.2% and represents nearly $90 million more revenue than previous estimates.

“I think this is further evidence that Missouri’s economy is vibrant and strong,” said Representative Bob Onder (Lake Saint Louis). “We wanted to emphasize pro-growth policies in Missouri, and now we are starting to see the benefits.”

Driving the strong growth in Missouri is the outstanding job creation numbers the State has mounted since January 2005, with over 94,000 new jobs created in that time. The new job creation numbers have caused unemployment to dip to 4.6%, a number economists believe represents close to full employment.

The strong growth numbers posted in past years led the legislature to enact a tax cut this year on Social Security and a large portion of retirement benefits. Approximately 244,000 Missourians will benefit from the tax cut this year, and the Legislature will be looking at more ways to return taxpayer dollars.

“Containing or cutting taxes is always one of my top priorities, “said Representative Onder, “because people know how to spend their money better than government. Consequently what we see is that when we cut taxes the economy improves, it’s a win – win situation for Missourians.”

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