The consensus revenue figures indicate that revenues will fall at least $243.3 million short of budget for the current fiscal year, according to the Office of Fiscal Analysis and the Office of Policy Management.
“These revenue figures prove that simply taxing our way out of a budget deficit will not work, the revenue streams are too volatile. We are right back where we started out after the largest tax hike in state history because the governor relied on raising taxes and rejected spending cuts.
“We have known for months that the anticipated savings from the deal the governor struck were fictitious. Now, these revenue numbers simply cannot support the $330 million in additional spending that the Democrats want.
“Worse yet, we fear these numbers portend yet another tax increase. Amazing.’’