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Saturday, December 27, 2008

Culver to cut $60 million more from state budget

Gov. Chet Culver will cut $60 million more from the state's budget next week, he said Friday after the release of new estimates that indicate Iowa's revenue is shrinking.

Iowa will have $99.5 million less in revenue for the current budget year, which ends in June, than was projected two months ago, the three-member Revenue Estimating Conference said Friday.

"This is going to require real cuts and there will be real pain," said Iowa House Majority Leader Kevin McCarthy, a Democrat from Des Moines. read more...

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