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Kansas City News Today Kansas City Front Page is a weekly news publication, with daily updates, spotlighting attractions, events, business and hospitality in Kansas City. |
KANSAS CITY NEWS TODAY - Monday, June 30, 2008
KANSAS CITY, (kansascityfrontpage.com), June 30, 2008 - In the 2007 Auto Pulse survey on gas prices, Consumer Reports found the tipping point at which motorists said they would drastically reduce driving would be $3.50. And they have. Year-to-date, 20 billion fewer miles have been traveled compared to 2007 for the same period, according to the Department of Transportation. Responses to this latest Auto Pulse survey show a median price of $4.32 per gallon as the new tipping point that would lead them to drastically reduce their driving even further. This marks a much narrower margin between national average prices and the median tipping point than in last year's survey, signaling that consumers now have less flexibility in their budgets. AMERICANS FEEL IMPACT FROM RISING FUEL COSTS Consumer Reports found high gas prices are not only forcing consumers to cut back on driving, vacations, and entertainment spending, but to struggle with essentials like food and health-care costs. Households with less than $40,000 annual income are being especially hard hit. Forty-five percent of respondents have been putting less money into savings accounts; 24 percent have cut back on essentials like food or healthcare; and 17 percent have charged more expenses on credit cards--all troubling trends. Many drivers also made changes in their transportation patterns to save money, including: -- 31% Walked or bicycled more -- 24% Carpooled more -- 18% Worked from home -- 16% Used public transportation more -- 10% Moved closer to work When it comes to choosing a new car, 31 percent of new-car shoppers identified fuel economy as the most important consideration, nearly double the share recorded in 2007. While nearly 80 percent of car shoppers want better fuel economy, 69 percent still want a same-sized or larger vehicle. That said, literally no respondents wanted a much-larger vehicle, suggesting automakers face an immense challenge getting new customers into full-sized pickup trucks and SUVs. Compared against last year's survey, Consumer Reports found motorists are more interested in alternative engine types (80% vs. 47%). Among those planning to purchase a new car, 37 percent (vs. 24% in 2007) are considering a flex-fuel vehicle; 32 percent a hybrid (vs. 28%); and 30 percent a diesel (vs. 11%). Gov. Blunt Approves $22.4 Billion in Spending JEFFERSON CITY, MO, (kansascityfrontpage.com), June 30, 2008 - Gov. Matt Blunt has signed a responsible budget that will benefit Missouri families, supports their values, lives within the taxpayers' means and reflects their priorities. According to a release from his office, Gov. Blunt's strong, conservative fiscal management of Missouri's budget turned an inherited $1.1 billion deficit into three surpluses in a row. In April, the National Conference of State Legislatures reported that Missouri is one of only 13 states projecting stable or optimistic revenue outlooks for 2009. According to a June 2008 fiscal survey conducted by the National Association of State Budget Officers, Missouri is one of only 15 states currently projecting higher revenues than estimated for Fiscal Year 2008. In fact, they project that 20 other states are projecting lower revenues. Additionally, The Pew Center on the States reported this year that Missouri tied for fourth in the country in the management of state government receiving the second highest grade issued to states by Pew. "This is not the state's money, nor the state's budget, it is Missouri's budget," Gov. Blunt said. 'Missourians can be proud that for the fourth year in a row we have enacted a responsible budget, one they can afford that puts their priorities above politics. Over the last three and a half years, we have pulled the state budget out of an inherited $1.1. billion deficit, kept our promise to increase funding for education, provided three major tax cuts for Missourians and enacted many other important initiatives for Missouri families. We have carefully considered every penny and worked at every turn to help ensure we get the most for each and every taxpayer dollar." The $22.4 billion in spending Gov. Blunt approved today includes a $121.3 million increase for the funding formula to support elementary and secondary schools, $43 million in new state dollars for two and four year colleges and universities, and a nearly $24 million increase for needs-based scholarships, which together bring the total increase for education under the governor's leadership to $1.2 billion. At the request of House Budget Chair Allen Icet, Gov. Blunt postponed action on House Bill 2012. After a six-week investigation determined Attorney General Jay Nixon's office violated Missouri state statutes and mishandled a $629,987.84 settlement, Rep. Icet asked the governor to withhold final approval of the budget bill until he could review the findings of the investigation. Gov. Blunt has until June 30th to take action on appropriations bills. The governor's carefully balanced FY 2009 budget makes vital investments for Missouri students and classrooms while respecting Missourians' hard earned tax dollars and includes, among other things, funding to benefit: STUDENTS
Blunt vetoed:
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