Gov. Edwards releases statement about $313M budget shortfall - FOX 8, WVUE, fox8live.com, weather, app, news, saints

Gov. Edwards releases statement about $313M budget shortfall

(Source: Gov. John Bel Edwards' website) (Source: Gov. John Bel Edwards' website)
BATON ROUGE, LA (WAFB) -

On the eve of a budget stabilization meeting, Gov. John Bel Edwards released a statement regarding the $313 million deficit in the 2016 budget. 

Stabilizing Louisiana’s budget is my top priority, but we are still recovering from years of mismanagement. Unfortunately, our options are limited, and given the ongoing financial crisis of our state, nothing is painless anymore. However, we knew this shortfall existed and worked with state agencies to prepare for it without causing unnecessary harm. 

Our work in the 2017 legislative session will be more important than ever as we find ways to reform our state’s broken tax code so that we can make critical investments in higher education, TOPS and the future of our state. This isn’t the last of our budget challenges, and cuts for the current fiscal year will also be necessary and painful, but if we can work together in the regular session, Louisiana will be in a strong financial position for the future.

Gov. John Bel Edwards released the following statement on the budget shortfall for the fiscal year that ended on June 30, 2016 (FY 16). The Revenue Estimating Conference announced that the FY 16 shortfall was approximately $313 million.

Lawmakers have only 45 days to resolve the budget issue, according to state law. A Joint Legislative Committee on the Budget will hold a hearing on Friday, Nov. 18 to address the issue. 

"On Tuesday, Nov. 8, Gov. Edwards met with House and Senate leaders to discuss the options for closing the budget shortfall," states a press release issued by the Governor's office. "In June, Gov. Edwards discussed the shortfall that would need to be addressed this fall. The shortfall is for the previous fiscal year that ended on June 30."

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