MONTPELIER, Vt. (AP) — Vermont Gov. Peter Shumlin’s administration says lagging state revenues are prompting another round of budget cuts for the current fiscal year.
The cuts - up to $17 million worth - follow another round of cuts of $31 million during the summer. Officials say they’re needed because state revenues continue to lag even the lowered forecasts of economists advising the administration.
Shumlin had been warning in recent weeks that another round of cuts might be needed, as monthly revenue reports have shown money coming into the state at a slower pace than anticipated.
Shumlin has ordered agencies to submit their plans for how to absorb the latest cuts by Friday, Dec. 5.
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