Nebraska lawmakers facing nearly $1 billion budget shortfall next year

[TexasTowelie]

LINCOLN — Nebraska lawmakers will face a nearly $1 billion budget shortfall when they return to Lincoln next year.

That was the gap left after a state board met Friday to update the official forecast of state tax revenues through June 30, 2019.

Board members reduced the previous revenue estimates based on the gloomy agricultural economy and on lower than expected tax receipts this year.

The new forecast calls for tax revenues to fall $910 million below projected expenses from now through the end of the next budget period.

Read more: http://www.kearneyhub.com/news/state/nebraska-lawmakers-facing-nearly-billion-budget-shortfall-next-year/article_b02fa448-9d58-11e6-8c06-9bd11ec0380c.html