Mississippi senators to get economic outlook, revenue briefing Tuesday

Published: May. 22, 2020 at 10:47 AM CDT
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Lt. Gov. Delbert Hosemann says senators will receive a full briefing on the economic outlook in Mississippi and revenue projections when the 2020 Legislative Session reconvenes next week.

State Economist Dr. Darrin Webb and Department of Revenue Commissioner Herb Frierson will make a presentation to the Appropriations Committee in Senate Room 216 at 10:30 a.m.

The Senate gavels in at 10 a.m.

The economic briefing will be webcast through a link available by visiting the legislative website (click the attached link). Citizens are encouraged to watch online rather than attend in-person.

“Mississippi’s economy severely slowed for two months, with some businesses closing altogether. We need to understand the economic consequences of the shut down and COVID-19 as best we can before crafting a new budget,” Hosemann said.

In March, Hosemann, Speaker of the House Philip Gunn, Senate Appropriations Chairman Briggs Hopson, and House Appropriations Chairman John Read sent a letter to all state agencies, boards, and commissions which receive an appropriation asking them to implement cost-saving measures in anticipation of the economic halt.

“Our ultimate goals will be to prioritize education, healthcare, and the safety of citizens,” Hosemann said.

The legislature initially recessed its 125-day Session temporarily on March 18, following the Governor’s issuance of a State of Emergency related to COVID-19.

The House and Senate briefly reconvened twice in early and mid-May to begin appropriating the $1.25 billion provided from the CARES Act for COVID-19 relief in Mississippi.

The first appropriation set aside $300 million for a direct payment and grant program to small businesses meeting certain qualifications, and $50 million to the governor for any emergency needs. Gov. Tate Reeves signed Senate Bill 2772 on May 20.