Lawmakers and lobbyists packed into a capitol hearing room this morning to get the latest prognostications on where the state's revenue is heading. The whispers around the building the last few weeks indicated that the forecast would be mostly flat. Of course, "flat" could be slightly up or slightly down.
With the release of the latest numbers, the answer is here: state economists are predicting a $35 million decline in revenues during the current budget cycle. "Down" is never welcome news, but $35 million does indeed qualify as basically "flat," meaning budget-writers won't have to do much more tweaking to the budget settlement they've already reached. The rebalance agreement was in response to a combined $300 million drop in revenues since the close of the 2011 legislative session.
Wednesday, February 8, 2012
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