Late Saturday night, the Legislature released their budget counter-offer to the Governor, which Speaker Kelliher described as a package proposal. It includes:
- $1.8 billion from the K-12 education shift, contingent on there being a permanent revenue increase that will allow the shift to be bought back.
- $120 million in cuts from aids to local governments, tax credits and other tax items. This includes $14 million from additional tax compliance. The Governor had a total of $550 million in cuts in these categories.
- $169 million from efficiency reductions in state government.
- $986 million in permanent revenue (not specified).
- $52 million in cuts from already signed budget bills.
- Restoring the line item veto for General Assistance Medical Care, at a cost of $363 million.
- The net impact is $2.7 billion, which would balance the deficit. More details to come.
-Nan Madden
