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Friday, May 15, 2009
Overview
As the Senate prepares for its budget debate, a central question will be whether to approve a budget that relies primarily on spending cuts to close the state’s $5 billion budget gap, or whether to adopt a budget plan that includes tax increases as well as spending cuts. The budget proposal from the Senate Committee on Ways and Means (SWM) includes close to $3 billion in spending cuts, reliance on about $1.5 billion in temporary federal stimulus aid, close to $400 million drawn from reserves, and more than $200 million in new fees. This Budget Monitor describes the spending reductions proposed by the SWM budget by program area, and the services that would be reduced or eliminated as a result of those cuts.
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