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Greater St. Louis, Inc. Statement on the Missouri Senate’s Passage of $46 Billion State Budget
The Missouri Senate today approved their version of the state budget for the upcoming fiscal year. The Senate-approved $46+ billion budget includes funding for Greater St. Louis, Inc. priorities, including the Missouri Technology Corporation (MTC), public transit, and Medicaid expansion.
Greater St. Louis, Inc. worked with Senate appropriators to significantly increase MTC’s budget and add $8.7 million for public transit ($7 million general revenue + $1.7 million state transportation fund). We also worked with Senate appropriators to increase the authorization for the State Small Business Credit Initiative (SSBCI) program to the full federal funding level of $94.9 million so these resources can reach Missouri’s entrepreneurs faster. MTC will administer SSBCI funds to support entrepreneurship and innovation in the state. Both Senate and House budgets fully fund Medicaid expansion.
The House and Senate will now go to conference to work out the differences between the House-approved and Senate-approved budgets.
Greater St. Louis, Inc. Chief Policy Officer and President of ChamberSTL Tracy Henke today issued the following statement on the Senate’s passage of a state budget.
“Greater St. Louis, Inc. thanks Senators who recognize the value in increasing state investment in innovation, public transit, and health care in the St. Louis metro and across the state.
“Greater St. Louis, Inc. calls on House and Senate conferees to follow the Senate’s lead on SSBCI, MTC, and transit funding.”
In the coming days, other Greater St. Louis, Inc. funding priorities will be debated in the Senate in a separate appropriations bill, including $400+ million for broadband expansion and accessibility and $250 million for a Community Partnership Development Revitalization program.