The state should get another $126.4 million in revenue over the next two years, thanks to an unexpected increase in tax collections that lawmakers can use to whittle away at a $1.6 billion deficit.
New revenue estimates from the Legislative Fiscal Bureau and economic forecasts by Global Insight Inc. show the state will collect $349 million in taxes it didn’t foresee. But shortfalls in several state agencies and programs will draw that down to a net gain of $126.4 million, the fiscal bureau said.