Wednesday, Apr 25, 2018
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Ohio facing $8 billion deficit in next budget

COLUMBUS, Ohio — Ohio tax revenues have been coming in higher than expected, positive budget news for a state that has been struggling with deficits.

The Columbus Dispatch reports preliminary numbers released last week show November's tax receipts surpassed projections by $65.7 million, or 5.4 percent. For the fiscal year ending in June, tax revenues are running 3.3 percent above estimates.

The state is still facing the prospect of an $8 billion shortfall in its next two-year budget, due by June 30.

Officials say November's tax collections were boosted by personal income taxes and sales taxes that came in above forecasts.

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