Idaho’s deficit increases five-fold

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by KREM.com

KREM.com

Posted on January 28, 2011 at 9:36 AM

Updated Friday, Jan 28 at 9:38 AM

IDAHO-- State leaders revealed Idaho’s state budget may be drastically larger than previously predicted.

New projections estimated the deficit may now be five times bigger for the 2012 fiscal year.  One lawmaker said the budget gap could reach $185 million dollars. 

Less than a month ago, Governor Butch Otter based the budget proposal on a $35 million deficit.

A drop in tax revenue, reforming state tax code, and rebates for alternative energy projects likely explains the larger deficit.
 

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