News

Louisiana's budget shortfall continues to rise

Font size

Posted: Sep 21, 2009 5:20 PM by Mike Steele
Updated: Sep 21, 2009 5:36 PM
Source: WBRZ

  Rating: 0.0 (0 votes)

Topics: Louisiana, budget, oil, barrel, price, shortfall

State money managers say Louisiana is expected to add $1.2 billion to this year's budget shortfall.

Louisiana's shortfall has already reached $850 million this year. The price for a barrel of oil is an important factor in forecasting state revenue. A barrel is currently selling for about $70. State projections are around $53. That would normally trigger a surplus.

State budget experts said sales and income taxes are lower than expected. That will offset any difference with the price of oil under current conditions.

comments powered by Disqus

Most Popular