State Budget Shortfall Projection Rises to Almost $2 Billion

The Legislative Fiscal Bureau announced in a memo to legislators the projected state budget shortfall, or structural deficit, for 2015-17 has risen to $1.77 billion. The LFB projected a deficit of $642 million in May. The revised figures are the result of lower state tax collections and global economic projections.

LFB 2015-17 deficit memo

LFB 2015-17 deficit memo, page 2