Louisiana Revenue Estimating Conference Says State Is Short $211 Million For Fiscal Year
The Revenue Estimating Conference released projections that say Louisiana is $211 million short for the fiscal year as a result of lower-than-expected revenues. Revenue projections for the fiscal year that starts July 1st have also been revised downward by $300 million.
Lapolitics.com publisher John Maginnis says the lower-than-expected revenues could be blamed on the economy or bad revenue projections. Maginnis says predicting how much the state will take in is a problem, when the economy is so uncertain.
It's up to the Governor's office to make cuts that bring the current year's budget into balance. State lawmakers' task is to make next year's budget balance before the legislative session ends on June 4th.