Nixon: Missouri lawmakers busted state budget

Missouri Gov. Jay Nixon says the budget passed by lawmakers is severely out of balance because of a "cavalcade of special-interest tax breaks" passed on the final day of the session.

Lawmakers passed bills Friday that would create new sales tax exemptions for electricity and materials used for computer data centers. Bills also offer tax sales tax breaks to power companies, fitness centers, restaurants and other industries.

Nixon says the tax breaks could reduce state revenues by $263 million to $483 million. He says he will veto bills or cut the budget passed by lawmakers in order to balance it.

Lawmakers touted the data center tax break as a way to attract high-tech businesses to Missouri. They also questioned whether some of the cost estimates are overstated.