The Speaker of the Nebraska Legislature doesn’t see the state’s revenue shortfall ending anytime soon. That was Speaker Mike Flood of Norfolk’s comment as the Governor announced a special session. Flood says it won’t be a pleasant issue, but the special session will be necessary to deal with shortfalls of 40 milliondollars in September and 14 million dollars the month before. He says one thing he expects to see is across the board cuts.
“I think it’s an indication that we have more Nebraskans that are either underemployed or working fewer hours, that’s what we saw in August with the employee withholding numbers down $14 million essentially. We’re also seeing a great drop in September in the individual income tax, but I have to think there are a number of Nebraskans that are really hurting right now.
Flood says he favors keeping as much money as possible in the state’s cash reserve. The Special session starts November 4th.