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State may be staring down a $300-$400 million budget hole

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Although it is a preliminary report by the non-partisan Legislative Fiscal Bureau, the state may be facing a deficit of $300 - $400 million in the current budget.

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Bob Lang, LFB director, told the co-chairs of the Legislature's budget committee of his bureau's findings in a letter released late Thursday afternoon.

The primary reason for the shortfall is lower than expected tax collections, according to Lang's letter.

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