The state's revenue estimators missed the mark again, leaving the governor's office 30 days to make almost $200 million more in budget cuts halfway through the fiscal year.
The state's revenue estimators have missed the mark again on the state's budget revenues, leaving the governor's office 30 days to make almost $200 million more in budget cuts halfway through the fiscal year.
According to The Times-Picayune, the biggest flops in the panel's overestimates were in individual income and severance taxes, both of which failed to bring in what was initially projected.
It's unclear which departments and services will face Gov. Bobby Jindal's red pen, but Commissioner of Administration Paul Rainwater says lawmakers should have something in hand by Friday. Jindal has 30 days to adjust the budget accordingly.
Next year's budget revenue estimates have also been reduced by $214 million at the hands of the panel.
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