Louisiana Budget Shortfall Revised to $648 Million

Courtesy: Chuck Smith / Red River Radio News

NEW FORECAST SHOWS LOWER SHORTFALL - Louisiana is expected to have a budget  shortfall, when the “FISCAL CLIFF”  happens July 1st  as  temporary sales taxes expire.    Yesterday,   the state income forecasting  panel  shared  revised  revenue  projections  from  a  $1 billion-dollar shortfall  to  around  $648 Million.  This new  forecast  is  based  on  expected  tax collection improvements,  largely tied to the recent  federal  tax overhaul passed by Congress.   So it means the state has about $340 million more to work with and while it’s an