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State Projects Budget Deficit At Over One Billion Dollars

Final estimates place Ohio's projected budget shortfall at more than 1 billion dollars. Legislative budget analysts Thursday told the opening day of a conference committee working to meet a June 30 budget deadline tax revenues are expected to lag projections by 1.02 billion dollars over the two-year budget cycle. The state is also expected to see its share of Medicaid costs exceed estimates by 59 million over the period. The Legislative Service Commission estimates were in line with what lawmakers were expecting. The budget bill that cleared the Ohio Senate on Wednesday already proposed ways to close the gap. Republican legislative leaders and GOP Governor John Kasich went public with concerns in April that there would be a revenue shortfall of at least 800 million dollars.

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