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(Missourinet) - The new fiscal year starts next week. For the third year in a row, the governor is withholding money for higher education.
Governor Jay Nixon says he's hopeful this will be the end of spending cuts, since there are signs the economy is starting to turn around.
Nixon says the cuts are needed because the legislature is banking too much on lottery revenues increasing by $35 million and because lawmakers cut $11 million from disaster relief funds when the state still owes money for cleanup from last year's disasters.
Nixon is imposing a one percent across the board cut, with the biggest chunk coming from the higher education budget.
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