State revenue gains overshadowed by soaring Medicaid and SNAP obligations
The Joint Budget Committee reports a $1.58 billion general fund shortfall for the 2027-28 budget. While revenue projections have improved, they are outweighed by rising Medicaid and SNAP costs. The state currently faces significant spending obligations that exceed available funds.
After Thursday’s review of Medicaid overexpenditures, the Joint Budget Committee heard stronger revenue projections on Friday but also deeper spending problems. Lawmakers will begin work on the 2027-28 budget with a $1.58 billion general fund shortfall. Before accounting for required obligations, the state would have about $686 million available. Once Medicaid overexpenditures of more than […]
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