State senators were briefed on the budget today. Declining sales tax collections have helped spur a two billion dollar budget shortfall. A special session to balance the budget will likely be called in January.
State Senator Nan Rich said while spending cuts are likely, lawmakers will also consider raising taxes to generate revenue.
“We can’t make more cuts without really hurting the most vulnerable people in our communities and I think we have to have everything on the table. We have to look at new resources and I’m hoping that is what’s going to happen,” said Rich.
The work isn’t over once this year’s budget is balanced. State economists estimate a 30 billion dollar budget shortfall over the next four years.