States across the country are seeing lower tax revenue than usual, though Nebraska’s budget shortfall is worse than most.
By the end of the legislative session in April, state lawmakers in Lincoln had built a balanced budget with a projected surplus of $6 million.
However, four straight months of declining tax revenue flipped the state into a budget shortfall of roughly $208.5 million. Since then, August’s tax revenues came in better than expected, by just over 1%.
Nationwide trend
The falling revenues are not limited to Nebraska’s borders…