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Gov. Jindal to announce state budget cuts Friday

2 years 6 months 4 days ago November 18, 2014 Nov 18, 2014 Tuesday, November 18 2014 November 18, 2014 1:58 PM in News
Source: Associated Press

BATON ROUGE- Gov. Bobby Jindal will unveil his proposal Friday to rebalance this year's budget, which contains a $171 million hole.

The Jindal administration announced Tuesday that it will present its deficit-closing plan to lawmakers within three days, rather than take the full month available to devise its strategy.

Despite the emergence of the budget gap, no grim news is ahead for Louisiana's public colleges, who after six years of state funding reductions had finally escaped this fiscal year without slashing.

The Jindal administration says public college campuses won't be on the chopping block.

The deficit in the $25 billion budget stems from two main problems: worse-than-projected revenue tied to falling oil prices and anemic personal income tax growth.

Louisiana's constitution requires a balanced budget.

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