Thursday, January 28, 2010

Ruh-roh. $200Million+ Hole in the Doylet Budget

What a shock.

The state budget is projected to come in $219.5 million less than expected, but the shortfall won't require action by lawmakers - at least for now.

The bulk of the shortage can be attributed to a tax reciprocity agreement with Minnesota that state canceled last year and lower-than-expected cigarette tax collections, the Legislative Fiscal Bureau reported Wednesday.

Gee. Raise the tax on tobacco, get $90 million less of the revenue-producing activity. Who coulda node?

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