While many of us were out teabagging taxes into oblivion the House Ways & Means Committee released their proposed budget for FY 2010.
“The budget that the House presented today is a sober reflection of our state’s financial health,” said Rep. Charlie Murphy, chairman of the House Ways & Means Committee, in an afternoon press conference.
The budget closes a $3.6 billion budget gap by including $1.8 billion in cuts and relying on $1.5 billion in federal stimulus money.
The budget does not relying on any rainy day funds. Murphy said that the rainy day funds must be preserved because of the potential for a slow economic recovery.
The proposed operating budget is $27.44 billion.