The Joint Finance Appropriations Committee has agreed to budget from a figure that’s about $33 million less than Governor C.L. “Butch” Otter’s recommendation.
JFAC agreed with its colleagues in the Economic Outlook and Revenue Assessment Committee to set its revenue estimate below the Governor’s number. Now, lawmakers will set the state spending plan for fiscal year 2013 with the assumption it has $2.66 billion to allocate. Governor Otter’s budget plan assumed the state could spend $2.7 billion, a difference of about $33 million.
The committee voted along party lines, 16 Republicans for and four Democrats against, to adopt the lower revenue estimate.
JFAC will now start crafting it’s budget for 2013. It hopes to be finished by early March.