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Stinner’s proposal would reduce budget reserve to address biennium shortfall | KRVN Radio

Stinner’s proposal would reduce budget reserve to address biennium shortfall

Stinner’s proposal would reduce budget reserve to address biennium shortfall

Reducing the required budget reserve from 3% to 2% to free up about $85 million dollars is Gering Senator John Stinner’s proposal to eliminate part of Nebraska’s $288 million budget shortfall facing the next biennium.

Stinner told NET yesterday trimming the budget reserve will help to avoid even deeper cuts than the Appropriations Committee and Governor Pete Ricketts are proposing.

Stinner says that if it does turn out a 2% reserve isn’t enough to cover unexpected expenses or further drops in revenue, they can always borrow from the state’s cash reserve account…which is expected to be over $550-million dollars in 4 years.

Stinner’s proposal is scheduled for a public hearing next Wednesday.

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