Bigger drop in Arizona revenue anticipatedPosted: Updated:
PHOENIX (AP) -- There's more gloomy news on the state budget.
Arizona legislative budget analysts said Tuesday that tax collections continue to decline and that revenue shortfalls look significantly larger than projected even two months ago.
The analysts say a consensus forecast by private and government economists calls for a 13 percent decline in state revenue from the previous fiscal year.
That's worse than the 9.7 decline anticipated in January for the budget year ending on June 30.
Budget director Richard Stavneak said the 13 percent decline may be too optimistic. He suggested using a 14.5 percent decline until there's evidence of a recovery.
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