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Nebraska Advances New Budget with Virus Fears in Mind | KTIC Radio

Nebraska Advances New Budget with Virus Fears in Mind

Nebraska Advances New Budget with Virus Fears in Mind
Acquired Through MGN Online on 01/30/2020

Nebraska lawmakers have given initial approval to a $9.4 billion, two-year state budget that shovels millions of extra dollars into the state’s rainy-day fund amid fears about the global pandemic caused by the new coronavirus.

Lawmakers had already planned to boost the state’s cash-reserve fund after three years of lagging tax collections and tight budgets, but the worldwide panic had many of them warning that the state could face more trouble.

The new budget would boost the cash reserve to $731 million by the end of the current two-year budget cycle in June 2022. The reserve had fallen as low as $296 million last year.

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