The big news this week is our first glimpse of the budget. It was a teaser or official trailer for the next entertainment program.

Thursday morning House Budget Chairman Cody Smith released the House Budget substitutes for Fiscal Year 2025. The FY 2025 Budget, which carries a price tag of roughly $49.9 billion, reflects a comprehensive understanding of the state’s financial landscape, coupled with a vision for sustainable growth and development. These bills aim to allocate the state’s resources efficiently and prioritize investments in several key sectors, such as education, infrastructure, health, public safety, and transportation.

Some of the key highlights of the Fiscal Year 2025 Budget are as follows:

• $727.5 million investment for rebuilding I-44 (including six lanes at Springfield, Joplin, and Rolla);

• $100 million for rural and low volume roads;

•$120.6 million increase to fully fund the K-12 education foundation formula;

• $14 million increase to fully fund school transportation;

• $4 million to increase the minimum teacher pay to $40,000 per year;

• $1.5 billion toward broadband access;

• $8 million for the National Guard and Operation Lone Star to defend the southern border; and,

• $2 million for grants to pregnancy resource centers

“I’m proud to report that our House budget focuses on fiscally conservative policies that highlight the importance of spending within our means,” Smith, R-Carthage, said. “By sharpening our pencils and delving into the details of each department’s budget, we are ensuring that our budget provides the critical services Missourians need while eliminating unnecessary spending. Through collaborative efforts and thorough analysis, we are addressing Missouri’s pressing needs while ensuring accountability and transparency in our budgetary decisions.”

The House Budget substitute bills introduced by Chairman Smith signal a renewed commitment to fiscal stewardship and economic growth, underscoring the legislature’s dedication to serving the best interests of the people of Missouri.

The budget process is not over. Debate begins on the House floor on March 25th.  The House will send the debated budget to the Senate where anything can happen. The House will debate the Senate version of the budget during the last days of session in May. I cannot begin to guess the outcome. The weekly progress, or lack of progress, will be better entertainment than your favorite TV program. Stay tuned.

I look forward to hearing from you. Please email me with any questions or concerns @ bruce.sassmann@house.mo.gov or call Jill in the office @ 573-751-6668.