Wednesday, September 9, 2009
Budget Breakdown: Billion-Dollar Hole
The Joint Legislative Budget Committee is done analyzing the impact of Gov. Jan Brewer's budget action last week, when she signed some parts of the budget and vetoed others. The new JLBC estimate: The state is in the hole to the tune of $964 million.
That's a combination of two things: Brewer's vetoes opened up a $464 million hole—by eliminating cuts to education and welfare programs, mostly—and the state finished the last fiscal year in June with a $500 million shortfall that will have to be addressed this year.
Wonks can read the report themselves: statusafterseptember4vetoes.pdf
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