State lawmakers agreed Jan. 11 to raid state trust funds and proceed with deep cuts to health care and education to balance the $2.4 billion deficit.
Budget writers decided to tap trust funds, including the tobacco settlement fund, to the tune of $1.6 billion and cut state spending by more than $1 billion annually. Legislators agreed to cut an extra $400 million to pad the state’s budget ahead of the regular session in March, when state officials expect continued revenue declines.
Medicaid faces cuts of $170 million to $180 million, although the state’s 460-plus nursing homes were spared. Public schools are facing a loss of about $140 per student.
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