Many states are about to go into belt-tightening mode, cutting spending and searching for new revenue to deal with a bleak budget outlook that's likely to last two to three years. Half the states are grappling with shortfalls, and most of the remaining states have little room to maneuver financially. The combined shortfall is $16 billion this year, with a projected $32 billion in the next fiscal year, which for states starts July 1.
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