NewsState

Size of Louisiana budget shortfall expected to grow Tuesday

By:
  • AP

BATON ROUGE, La. (AP) — Louisiana’s multimillion-dollar budget gap is about to get worse.

The state’s income forecasting panel, called the Revenue Estimating Conference, is meeting Tuesday to trim back its income projections for this budget year.

The news is expected to be bleak.

Economists have warned the state’s tax collections for the budget year that began July 1 are coming in lower than expected. Estimates are that the state could face a budget gap of $300 million or more.

Any shortfalls because of this year’s forecast changes will come on top of a $313 million deficit left from last year that has yet to be closed.

The budget will have to be rebalanced — and both gaps eliminated through cuts or financing adjustments — before the current financial year ends in June.

 

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Content Sponsored By:
Glennas Pest Control 728×90
Alto Landscaping 728×90
May Marketing 728×90
Diamond Realty 728×90
Swoop 728×90
LA Home Center 728×90
May Marketing 728×90
Citizen’s National Bank 728×90
OneChiro 728×90
RSHV – 728×90 Banner
Pel-State Leaderboard 728×90
Glennas Pest Control 728×90
BizProSBC
RGM Marketing 728×90
Greenstar Insulation 728×90
Alto Landscaping 728×90
Bayou State Roofing 728×90

Will Broyles

Will Broyles is the owner of RealShreveport.com.

Related Articles

Loading...
Back to top button
Close
Close