January's revenue was up over $14 million than expected. So, it looks like the budget shortfall will not be $185 million but much closer to $130 million. Just finished one scenario on how to balance the budget. It included:
1. Restructure kindergarten $33 million
2. High deductible policy for state legislators $.3 million
3. No subsidy for drivers training $3.5 million
4. Cuts in Health and Welfare $40 million
5. Elimination of public TV $2.2 million
I recommend no cuts in corrections.
http://chum.ly/n/65b6ed
Subscribe to:
Post Comments (Atom)
You need to consider tax increases as well as spending cuts to meet the budget shortfall To say that all we have to do is take care of waste, fraud and abuse, is like a sparrow’s belch in the midst of typhoon.
ReplyDeleteLet’s just disengage ourselves from the myth that Ronald Reagan never raised taxes. He did. And here are four big ones. In 1982, the Tax Equity and Fiscal Responsibility Act, that rolled back about a third of his ’81 tax cuts, raised corporate tax rates, and to a lesser extent income tax rates. Raised taxes by almost one percent of GDP, which at that time was the largest percentage in peace time increase ever. 1982 gas tax increase, 1983 Greenspan commission raised payroll taxes…Then there was the 1984 deficit reduction tax…Then there was the Railroad Retirement Revenue Act, Consolidated Omnibus Budget of ’85…So there were a lot of them. Just thought I’d throw that in.