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State Finances Continue to Worsen

The state’s already challenging $5.7 billion budget deficit is expected to grow by as much as $1 billion, according to indications from the Department of Revenue and Legislative Fiscal Bureau.

Governor Doyle had cautioned earlier this week that revenue collections continue to come in at a lower rate than expected, due to the national economic downturn. Given this information, Republican members of the legislature’s budget writing committee called for stopping the committee’s work on the state budget until actual numbers will be released later this week or early next week.