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Finance chair outlines $732.9 million biennial shortfall; members discuss offsets and education funding timeline
Summary
Representative McGuire told the Finance Committee the Legislative Budget Analyst’s comparison shows a roughly $732.95 million biennial shortfall; members discussed potential offsets including rainy day fund use, slot‑machine revenue and proposed tax changes, and the interplay with education funding.
Representative McGuire, a member of the Finance Committee, told colleagues on Feb. 18 that a Legislative Budget Analyst (LBA) comparison of the governor’s budget and preliminary House Ways and Means revenue figures shows a biennial shortfall of about $732,948,000.
"For the biennium we are short $732,948,000," Representative McGuire said, summarizing the LBA comparison. He told members the governor’s proposal assumes several items that Ways and Means’ preliminary figures do not: a withdrawal of about $81,000,000 from the rainy day fund and an estimated $127,000,000 from licensed gaming (slot machine) revenue, both of which are not yet reflected in the Ways and Means figures.
McGuire and other members also…
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