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Nebraska lawmakers could face $232M projected shortfall | Rural Radio Network

Nebraska lawmakers could face $232M projected shortfall

Nebraska lawmakers could face $232M projected shortfall

Nebraska lawmakers may have to fill a projected $232.6
million budget shortfall when they craft a new two-year state budget next year.

The Nebraska Economic Forecasting Advisory Board predicted Friday that the state will collect $4.89 billion in tax revenue in the upcoming fiscal year and $5 billion the year after that, for a total of $9.89 billion.

Those estimates fall short of the projected spending during the two-year budget cycle. Even though tax revenues are growing, the increases fall short of what the state has historically collected. The numbers could change before the beginning of next year’s session.

Forecasting board members say the national economy appears to be slowing after years of strong growth, and in Nebraska, businesses are struggling to fill jobs because of a skilled worker shortage.

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