Budget remains on life support through at least September

The economic outlook from today's state revenue forecast was virtually unchanged from the expectations in February providing taxpayers with good and bad news about the health of the state's budget. The "good" news is state economic activity only reduced expected revenues for 2011-13 by $16 million. The bad news is lawmakers left a minuscule budget ending fund balance and there remains a 40% possibility that forecasted revenue will come in $1.3 billion lower than expected before the biennium ends . . . READ MORE