Mississippi Today

Interest on unprecedented amounts of federal cash keeps state budget afloat

Published

10 months ago

July 8, 2024

Over the last 12 months, the state collected $7.7 billion in revenue, about $18.4 million or 0.24% more than was collected the previous fiscal year.

If not for collecting $68.7 million or 84.4% more in interest earnings than the previous fiscal year, the state would have been in the rare situation of collecting less revenue than the previous year for only the sixth time since 1970.

Interest earnings were buoyed by high interest rates and unprecedented surplus state cash on hand. The state has accumulated large surpluses in part because of billions in federal dollars that poured into the state in response to the COVID-19 pandemic.

The latest revenue report, for the fiscal year that ended June 30, was released recently by the staff of the Legislative Budget Committee. The latest revenue report and upcoming monthly reports will be watched closely as some legislative leaders are again advocating for major tax cuts that could impact future state collections and the revenue available to fund services such as health care, education and road and bridge work. House Speaker Jason White has formed a task force to study possible tax cuts and Gov. Tate Reeves continues to advocate for the elimination of the income tax that accounts for about 30% of state revenue.

In the first two years after the pandemic, the state — fueled in part from federal money and inflation resulting in higher sales tax returns — collected unprecedent revenue. But in the past two years, especially the just completed fiscal year, revenue collections have slowed dramatically.

Still, because of conservative revenue estimates adopted by legislative leaders and because of conservative budgeting – leaving state needs unmet according to some – the slowing revenue estimates have not forced cuts to be made to budgets approved by the Legislature.

The revenue collections for the past fiscal year were $181.7 million or 2.41% above the official estimate. The Legislature sets budgets based on this estimate.

And it is also important to note that the revenue above the estimate would have been much less if not for the aforementioned interest on earnings, which came in $120 million or 400% above the estimate.

The amount collected above the official estimate — $181.7 million — will go into surplus that can be appropriated by the 2025 Legislature. In recent years as state revenue collections have grown by unprecedented amounts, the surplus funds have primarily been used for projects, such as to build or renovate governmental buildings and on public transportation and infrastructure.

According to the recently released report, sales tax, the 7% tax on most retail items, grew $81.8 million or 3% year over year while the use tax (the sales tax on internet sales and other out-of-state purchases) increased $18.9 million or 4.9%.

On the other hand, there was a big dip in personal income tax collections, $141.8 million or 5.9%. Income tax collections were expected to decrease because a $525-million cut in the income tax is being phased in. But the sales tax has not grown at the rate many income tax proponents predicted it would to offset the cut in the persona’ income tax.

The corporate income tax also decreased year over year — $69.5 million or 6.7%.

One of the bright spots in revenue collections continues to be the premium tax levied on most insurance policies. It grew 16.8% or $61.3 million.

The casino tax was down $7 million or 4.3%. The tax on medical marijuana was down $461,400 or 5.8%.

This article first appeared on Mississippi Today and is republished here under a Creative Commons license.

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Mississippi Today

UMMC holds free cancer screenings

Published

20 hours ago

April 30, 2025

Staff Editor

mississippitoday.org – @EricJShelton – 2025-04-30 12:00:00

by Eric J. Shelton, Mississippi Today
April 30, 2025

Resident physician Claire Babin, right, performs an oral cancer screening on Ella Holmes during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Physicians prepare for oral, head and neck cancer screenings during a free screening event at the Jackson Medical Mall on Wednesday, April 16, 2025.
Resident physician Brooks Lampkin, center, screens Diane Carter for oral cancer as medical students Mason Nodurft, left, and Eva Kiparizoska observe during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Educational giveaways advocating against smoking are available during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Sharon Terry, senior tobacco treatment specialist, waits for patients during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Skylar Robinson, medical office assistant, left, and Kiandria Bruce, registered nurse, review materials at the patient sign-in table during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Head and neck cancer literature is available during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Dr. Alex Brooks and registered nurse Angela Noble talk during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Nina Brown, clinical manager, helps Ned Bostic with paperwork during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Resident physician Brooks Lampkin performs an oral cancer screening on Ned Bostic at the Jackson Medical Mall on Wednesday, April 16, 2025.
Ned Bostic receives a neck cancer screening during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.
Resident physician Brooks Lampkin, center, and medical student Hanna Watson examine Ned Bostic during a free oral, head and neck cancer screening at the Jackson Medical Mall on Wednesday, April 16, 2025.

The University of Mississippi Medical Center’s Department of Otolaryngology-Head and Neck Surgery hosted a free oral, head, and neck cancer screening Wednesday at the Jackson Medical Mall as part of Oral, Head and Neck Cancer Awareness Week.

The event featured quick, noninvasive screenings aimed at catching cancer early — when treatment is most effective. Onyx Care provided free HPV vaccinations, while the ACT Center for Tobacco Treatment, Education, and Research offered resources on smoking cessation and free services.

“These screenings take about 10 minutes and can save lives,” said Dr. Gina Jefferson, head and neck surgical oncologist at UMMC. “The earlier a cancer is diagnosed, the better chance we have of curing it.”

Tobacco and alcohol use remain major risk factors for these cancers. However, physicians say an increasing number of cases are linked to HPV, especially among younger adults with no history of smoking or drinking. Dentists are often the first to spot early signs, which can include persistent sores, lumps in the neck, or difficulty swallowing.

Oral, head and neck cancers are among the most common globally. When found early, survival rates can exceed 80 percent.

This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.

The post UMMC holds free cancer screenings appeared first on mississippitoday.org

Note: The following A.I. based commentary is not part of the original article, reproduced above, but is offered in the hopes that it will promote greater media literacy and critical thinking, by making any potential bias more visible to the reader –Staff Editor.

Political Bias Rating: Centrist

This article presents factual information about a free cancer screening event without showing a clear ideological stance. It primarily focuses on the health benefits of early cancer detection and the availability of free resources, such as HPV vaccinations and smoking cessation support. The language used is neutral and the content is centered around public health education rather than promoting a political viewpoint. The inclusion of factual statistics, such as survival rates and risk factors, adds to its informative and objective tone. There are no signs of bias or advocacy for a particular political agenda, making this a centrist piece.

Crooked Letter Sports Podcast

Podcast: What next for Mississippi State baseball?

Published

22 hours ago

April 30, 2025

Staff Editor

mississippitoday.org – @rick_cleveland – 2025-04-30 10:46:00

by Rick Cleveland and Tyler Cleveland, Mississippi Today
April 30, 2025

Mississippi State didn’t even wait until the end of the season to fire Chris Lemonis, who brought the national championship to Starkville not quite four years ago. Where do the Bulldogs go from here. Robbie Faulk who covers the Bulldogs more closely than anyone else joins the podcast to discuss the situation.

Stream all episodes here.

This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.

The post Podcast: What next for Mississippi State baseball? appeared first on mississippitoday.org

Mississippi Today

Mobile sports betting users: We want to hear from you

Published

22 hours ago

April 30, 2025

Staff Editor

mississippitoday.org – @MSTODAYnews – 2025-04-30 10:21:00

by Mississippi Today, Mississippi Today
April 30, 2025

Mississippi Today is looking to speak with current and former mobile sports betting users. We’d like to speak with people who spend considerable amounts of time and money betting on sports through online gambling sites.

We’re interested in hearing the experience of people who have suffered from gambling addiction or problems, or friends and family members of people who have. We also would like to talk with people who believe legalizing mobile sports betting would benefit Mississippi and its residents.

We want to hear from you. Please take the survey below or contact Political Reporter Michael Goldberg by email at mgoldberg@mississippitoday.org

TAKE THE SURVEY:

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This article first appeared on Mississippi Today and is republished here under a Creative Commons Attribution-NoDerivatives 4.0 International License.

The post Mobile sports betting users: We want to hear from you appeared first on mississippitoday.org

Political Bias Rating: Centrist

This article from Mississippi Today appears to present a neutral stance, focusing on gathering input from various groups of mobile sports betting users, including those who may have experienced addiction issues. The content does not advocate for or against the legalization of mobile sports betting but instead seeks to gather diverse perspectives, including those of individuals who may support or oppose it. The language used is objective and does not suggest a particular ideological perspective, allowing for a balanced exploration of the issue at hand.