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The Senate Ways & Means (SWM) budget proposal addresses a budget gap of close to $3 billion by recommending significant budget cuts and relying heavily on assistance from the federal government. It does not include the Governor's tax reform proposals, or other new taxes. Also unlike the Governor's proposal, it does not draw on the state "Rainy Day" fund. It does, however, rely on some other temporary state revenue sources and some one-time savings.
May 25, 2010 | PDF | Budget Monitor