Nebraska lawmakers will need another $50 million to balance state budget
LINCOLN (AP) — Nebraska lawmakers who worked to erase a nearly $900 million projected revenue shortfall will have to come up with an additional $50 million to balance the state budget.
The Nebraska Economic Forecasting Advisory Board set new revenue estimates on Wednesday, predicting that the state will collect $4.3 billion in the current fiscal year and $9.2 billion in the coming 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.