ATLANTA - Georgia's sputtering economy and lagging tax collections are forcing legislative leaders to reconsider $700 million in new spending.
It could mean that hundreds of new jobs will be cut, about $150 million in tax cuts could be delayed and pay raises for 200,000 teachers and other state employees could be at risk.
Top legislative leaders have promised to vet the budget, including a proposal to hold a special session to cut spending.
State tax collections were down 9.4 percent in June and are off 1.1 percent for the fiscal year. That forced the state to use $600 million in reserves to make ends meet.
Gov. Sonny Perdue ordered most state agencies to plan for a 3.5 percent cut, saving $300 million. But legislators fear that won't be enough. One budget think tank says the state could face a shortfall of more than $2 billion.
Wednesday
October 30th, 2024
5:27PM
