Budget Shortfall Threatens Texas
POSTED: Friday, May 28, 2010 - 10:38am
UPDATED: Monday, May 31, 2010 - 5:04pm
Austin, TX - State lawmakers face a daunting challenge when they convene in Austin in January.
They must find $18 billion to balance the state budget.
Republican leaders requested that state agencies lower their funding requests by 10 percent in addition to an earlier request to cut budgets by five percent.
For months now, revenues to the state have been lower than they have been in the past largely due to the current economic downturn.