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State General Fund Tax Receipts Fall Again

The latest Nebraska Revenue Department figures show state general fund tax receipts fell $34 million short of projections.

Governor Ricketts says he is continuing to work with state agencies to constrain spending. He says the ongoing deterioration of tax revenues demonstrates the importance of the budget restraint exercised by the legislature in sustaining vetoes, which helped to re-establish a three percent minimum budget reserve.

The shortfall comes two months after forecasting board projections adjusted revenue projections downward. Nebraska has experienced five downward revisions of certified forecasts in the last two years.