The stateâ??s financial shortfall could grow by $1 billion or even more over the next two years, lawmakers said Tuesday.
Sen. Luther Olsen, R-Ripon, a member of the Legislatureâ??s budget committee, said that a worsening economy and falling tax collections could add as much as a $1.2 billion to a projected state budget deficit that was already nearly $6 billion earlier this year.
A growing budget shortfall could lead to everything from higher taxes to furloughs or layoffs of state workers or cuts to programs such as education and health care.