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Officials say cuts-only budget is the administration's plan to close near-term shortfall
Summary
Officials told attendees the administration faces a multibillion-dollar shortfall next year and that its near-term plan is to bridge it with cuts rather than new taxes; officials noted earlier rounds of cuts totaling about $8 billion and cited a prior $16 billion shortfall when taking office.
At the same press event where certified results were displayed, officials addressed the state—s budget outlook and said the administration's near-term plan is to close next year—s multibillion-dollar shortfall through spending cuts rather than new taxes.
When asked about a payroll-tax proposal announced by Representative Scott, Speaker 1 said they had not seen the proposal and that revenue from new taxes "doesn't solve the budget shortfall we're trying to solve for this next year." Speaker 1 emphasized the immediate timing problem for revenue measures and noted that earlier in the year the administration cut about $8,000,000,000 and referenced a $16,000,000,000 shortfall encountered upon taking office.
Speaker 4 asked whether the shortfall could be bridged with cuts only; Speaker 1 responded directly, "That's the plan," and repeated that the administration does not plan to sign increases in the sales tax or property tax in the near term. Speaker 1 added that some revenue-related proposals take time to "turn on" and therefore would not address the urgent next-year gap. The official said transportation budget items may be rolled out earlier than the operating budget.
Officials framed the approach as necessary to meet legal obligations to balance the budget for the coming year and said multiple difficult decisions remain before final budgets are released.
