Thursday, February 11, 2010

Raising Your Taxes

Higher government costs are cutting another $96 million from the state's already hurting budget.

That's the word from the state Office of Financial Management, which reported its latest estimate of state costs Wednesday.

The change means the state's budget deficit gets a little bit larger - now, it's closer to $2.7 billion. Officials say higher teacher costs are the biggest factor in this latest change.

State lawmakers are planning to raise taxes and cut state spending to balance the budget. The Democrat-led Legislature is about halfway through its scheduled 60-day session.


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