A week to go before the current session of the Legislature comes to an end and we’re coming to grips with another round of budget cuts. This latest round of withholdings is seen by the Holden Adminstration as a necessity in light of the Legislature’s refusal to approve tapping the Rainy Day Fund. Governor Holden says he’ll exercise a number of options to balance the books for the remainder of the current Fiscal Year, including furloughs of some state workers and cuts to college and university funding. There is uncertainty as to whether the withholdings could be restored if the House changes course and allows borrowing from the Rainy Day Fund. BudgetDirector Brian Long thinks it’s too late. He believes that because a deal was not struck by Friday at 6 p.m., it’s now too late. But, he’s not about to abandon all hope that the situation might improve. The latest round of cuts by the Governor totals $230-Million.
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