Lawmakers Agree: State Budget Deficit Is $14B
-
- February
- 24
Lawmakers did reach one budget deadline today: They agreed that the budget deficit has grown by about $1 billion, bringing the total 2009-10 deficit to $14 billion.
The legislative leaders and the governor’s office met yesterday to discuss the state’s revenues for the upcoming fiscal year. They reached consensus today; they had until March 1 to reach agreement on the size of the budget gap.
The $14 billion gap has been generally agreed to by legislative leaders after the state Assembly estimated that the deficit would grow by $1 billion, moving it up from $13 billion.
“The parties agree that the weaker economic outlook reached in economic consensus should result in a decrease in General Fund receipts of $1 billion when compared with the amount projected in the Executive Budget,” a statement from the governor’s office states.
This entry was posted
on Tuesday, February 24th, 2009 at 4:48 pm by Joseph Spector.
You can follow any responses to this entry through the RSS 2.0 feed.
Print This Post
| 
Email This Post
Jay Gallagher has covered Albany for Gannett News Service since 1984 and has been Albany Bureau chief since 1989. He`s a native of the Boston area and likes to point out that in this millennium, the score is Red Sox 1 championship, the Yankees 0. 
Cara Matthews has been a statehouse correspondent in the Albany Bureau since August 2005. Prior to that, she covered Putnam County government and politics at The Journal News for nearly five years. Before that, she worked at newspapers in Connecticut and covered the state Legislature for one of them. 
