Gov. Pete Ricketts says a drop in state revenue isn’t severe enough to drastically affect the state budget.
Ricketts says he is closely monitoring state revenue numbers to determine if the drop in money flowing into the state is a trend or just a blip.
“Well, right now, the revenue came in 2.2% below what the forecast was. So we can manage it where we are right now. The question is what is it going to do in the future and will we have to take other steps?” Ricketts says in an interview with Nebraska Radio Network.
Ricketts blames a drop in farm income for the drop in state revenue.
In July, gross General Fund receipts totaled $305 million, 2.2% below the forecast. Gross sales and use tax receipts fell 2.8% off the forecast with individual tax receipt 8.4% below the forecast.
The governor says he is in discussions now with his administration on the next two-year state budget. The proposal will be presented to the Unicameral to consider during the next legislative session.
Ricketts has advocated cutting taxes in the past, but says any proposals will be confined by the constraints of the budget.
AUDIO: Brent Martin reports [:40]