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State income forecast dropped by $35M, but no cuts

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Posted: Jan 15, 2014 1:52 PM
Source: Associated Press

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Topics: louisiana budget, budget forecast, budget cuts

BATON ROUGE - The state's income forecasting panel says the state will bring in $35 million less than expected for spending during this budget year.

But the drop in this year's forecast, announced Wednesday by the Revenue Estimating Conference, won't mean state agencies face new cuts.

Commissioner of Administration Kristy Nichols, says Gov. Bobby Jindal's administration is asking lawmakers to use unspent dollars from the state's recent tax amnesty period to fill the gap. She says the dollars will be swapped out in the state health department's budget.

The drop in the income forecast is tied to worse-than-expected corporate and sales tax collections.

The Revenue Estimating Conference also settled on a forecast for next year that the Jindal administration will use for its budget proposal, to be presented to lawmakers next week.

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