Posted: Jun 11, 2010 4:01 AM
Updated: Jun 11, 2010 4:01 AM
BATON ROUGE, La. (AP) The state's already bleak budget picture is expected to get bleaker Friday.
That's when the state's income forecasting panel the Revenue Estimating Conference is scheduled to adjust revenue projections.
State economists already have said the state's current year budget woes are worse than the $319 million deficit over which lawmakers are haggling.
The economists who advise the forecasting panel said two weeks ago that personal income tax collections aren't meeting their estimates. That shortfall could reach $100 million or more, on top of the deficit for the fiscal year that ends June 30, they said.
The Revenue Estimating Conference is expected to cut this year's forecast. The panel will discuss and may adjust next year's revenue forecast as well.