Fiscal 2009 forecast

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The recent severance tax increase for highways shouldn’t be diverted toward the state’s $107 million fiscal 2009 general revenue budget cut, Gov. Mike Beebe said Wednesday.

Legislative leaders agreed, saying that the natural gas severance tax increase likely wouldn’t have passed if it had not been designated as special revenue dedicated to roads.

The general revenue budget, which is financed mostly with revenue from sales and income taxes, pays for Medicaid, prisons, and colleges among other government services. The cut was mistakenly revealed Tuesday by the Department of Finance Administration on its Web site.

Check the fiscal 2009 budget forceast here

This article was published Wednesday, April 9, 2008.

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