In a presentation to business and government leaders, MTF President Michael Widmer described the $2 to $2.5 billion budget gap facing the state in 2012, which will likely turn out to be the most difficult year of the state's extended fiscal crisis. Compounding this predicament, should voters approve the ballot question to cut the sales tax from 6.25 to 3 percent, the state would lose $2.5 billion in revenues raising the 2012 shortfall to nearly $5 billion.
September 16, 2010
FY 2011
State Finances: Heading Over the Cliff?
In a presentation to business and government leaders, MTF President Michael Widmer described the $2 to $2.5 billion budget gap facing the state in 2012, which will likely turn out to be the most difficult year of the state's extended fiscal crisis. Compounding this predicament, should voters approve the ballot question to cut the sales tax from 6.25 to 3 percent, the state would lose $2.5 billion in revenues raising the 2012 shortfall to nearly $5 billion.
