LINCOLN, Neb. (AP) — Nebraska lawmakers who worked to erase a nearly $900 million projected revenue shortfall will have to come up with another $50 million to balance the state budget.
The Nebraska Economic Forecasting Advisory Board set new revenue estimates on Wednesday, predicting the state will collect $4.3 billion in the current fiscal year and $9.2 billion in the upcoming two-year budget cycle.
The new projections will wipe out the $3.5 million that lawmakers had available for priorities this year.
Forecasting board members offered differing views on the state economy. Members from Nebraska’s larger cities offered a positive outlook, while rural members warned of a struggling farm economy.
Sen. John Stinner of Gering, the Appropriations Committee chairman, says the estimates are another hurdle but not disastrous when it comes to balancing the budget.