If state lawmakers had to pass a 2015-17 budget today, they would first have to dig out of a $642 million hole, the Legislative Fiscal Bureau reported Thursday.
That amount is about the same as was projected when lawmakers passed a third round of tax cuts earlier this year, drawing down a nearly $1 billion surplus that resulted from better-than-expected revenue growth.
Via State structural deficit stands at $642 million @ SJ On Politics Blog.