Holden And Republicans Still At Odds Over Tobacco Bond Plan To Balance Budget

Governor Bob Holden is dismissing the Republican plan to deal with the current fiscal year’s budget shortfall as insufficient. Holden says the GOP proposal falls short of what is needed to prevent cuts to education. He insists he will be forced to cut more than $160-Million from public schools and higher education if no compromise is reached by the end of the week. Both Holden and the Republicans agree to sell bonds to come up with cash from the state’s future share of national tobacco settlement money. Holden wants to use approximately $262-Million for the current budget year. Republicans want to limit this year’s use of bond money to $100-Million.