Oklahoma's budget shortfall is deeper than what officials expected. The state Equalization Board today said state lawmakers will have $611.3-million dollars less to spend this year than last.
The state says the decrease is brought on by declining oil prices. It was originally been estimated to be $298-million short and then $600-million.This will mean cuts it state agency expenditures and pretty much voids Governor Fallin's proposed budget. The Oklahoma Policy Institute Issued the following statement in a news release
"This news that Oklahoma's revenue picture has gone from bad to worse cannot be blamed only on the slowdown in the energy industry. Choices by the Legislature and Governor have helped dig this budget hole. State leaders need to make better choices to avoid calamitous cuts to our children's schools, our health care safety net, and public safety."