Gov. Heineman Comments on State Revenue Forecast

(Lincoln, Neb.) Gov. Dave Heineman today made the following statement regarding the State revenue receipts for August.

“The 4.6% shortfall in August receipts may be an early warning sign that the national economic slowdown is having a more direct impact on Nebraska’s receipts. While one month is not a trend, historically a national slowdown has resulted in lower receipts for Nebraska later in the economic business cycle.

“We will continue to closely monitor receipts and if adjustments need to be made to Nebraska’s FY 2010-2011 budget, I will recommend reducing expenditures. I will oppose any attempt to increase income or sales tax rates.”

The news release from the Nebraska Department of Revenue can be found at www.revenue.ne.gov/news_rel/sep_09/August_Monthly_Receipts_9-10-2009.pdf.