January tax receipts are down...way down. Numbers from the capital show receipts are 5.7 percent below projections. "Its not good news", says Omaha Senator Pam Redfield, who is on the Revenue Committee. "We're looking at a $200 million dollar hole." she adds.
And there's more. The first seven months of the fiscal year show revenue projections are down 1.1 percent. January figures alone add some $20 million in deficits. Five more months of figures like that could add up to a big headache for the state, and the groups hoping to survive this current fiscal year without major state aid reductions. "This could be very bad news for the University of Nebraska, this could be very bad news for the State Fair because both of those entities in troubled times have absorbed quite a bit of cuts already", commented Lincoln Senator Mike Foley.
The next budget forecast comes out February 27th.