Gov. Heineman’s Statement Following Forecasting Board Projections

(Lincoln, Neb.)Gov. Dave Heineman today made the following statement regarding the State Forecasting Boards projections.

“Today the Nebraska Forecasting Board confirmed that the national economic slowdown is unquestionably impacting Nebraska tax receipts.

“The Forecasting Board revised tax receipts downward by $297.3 million over the biennium. Additionally, we need to remember that Nebraska lost $36.5 million in tax receipts in May and June of the last fiscal year. That means our total revenue shortfall is approximately $335 million.

“Therefore, the Nebraska Legislature will be having a Special Session beginning on Wednesday, November 4 at 3 p.m. Central Standard Time. I anticipate issuing the official call along with my budget proposal on Monday, November 2 or Tuesday, November 3.

“The careful fiscal discipline that Nebraska has practiced has better positioned us to address the immediate and direct effect of reduced tax receipts and our ability to meet our current obligations.

“I am confident that we can weather this fiscal storm.”