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Mitt Romney tells House he has narrowed Olympic budget gap; asks for short delay on state payment
Summary
Mitt Romney told the Utah House he inherited a $375 million shortfall at SLOC, said the committee cut $200 million and added over $100 million in sponsorships, and requested a 60‑day delay of a $58 million payment to the state while proposing an escrow arrangement and a possible $13 million sales/ticket tax allocation to cover municipal service costs.
Mitt Romney, speaking to the Utah House in Committee of the Whole, reported steps taken by the Salt Lake Organizing Committee to stabilize the 2002 Winter Olympics budget and asked the Legislature for guidance on cash‑flow and municipal service costs.
Romney said he discovered a $375,000,000 shortfall when he took the job and described a multi‑part response: an internal code of conduct, management changes, a $200,000,000 reduction in projected costs, and more than $100,000,000 in new sponsorships…
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