$963 Million Deficit Projected for Louisiana’s 2013 Budget
Description: Gov. Bobby Jindal's budget advisers have cautioned Louisiana lawmakers, the state could face a $963 million dollar budget shortfall for the 2013 fiscal year, which begins July 1. That's if the state doesn't cut any of the services it currently provides.
The Medicaid program will be short of about $355 million dollars because of the loss of federal revenue that also posed a problem during the current fiscal year.
The state is not counting on the more than $200 million dollars pulled from a rainy day fund this year. Another $164 million is attributed to inflation and merit raises for state employees. Few state employees have gotten merit raises in recent years, but money for raises is being looked at in the budget, though the money is not available according to the budget office.
The cost of the TOPS program for college students is also expected to jump by $28 million.
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