Tue November 20, 2012
Nebraska state budget outlook improves
LINCOLN, Neb. (AP) — Nebraska lawmakers should have an easier time balancing the budget next year, thanks to growing revenue and shrinking expenses.
The Omaha World-Herald (http://bit.ly/TUxxqN ) reports that a new estimate puts the gap between revenues and expenses at around $200 million for the next two years.
That is below the nearly $1 billion shortfall that loomed over lawmakers two years ago, or the $377 million deficit they faced in 2009. And it's one-third as big as the shortfall they expected to face just months ago.
Mike Calvert, director of the Legislative Fiscal Office, says a state board recently issued projections for state tax revenue that were $295.8 million higher than earlier estimates. He says new calculations also showed the state needs to spend about $202 million less on aid for public schools.
Information from: Omaha World-Herald, http://www.omaha.com
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