In the Wake of the Revenue Failure, Discussing the State Budget for This Year and Next
Earlier this week, on Tuesday the 21st, the State Board of Equalization met in Oklahoma City to approve revised revenue estimates for FY 2017 and FY 2018. The revised estimates for FY 2017 are for revenues to be "under" by some $296 million, or 5.7 percent, and thus a revenue failure has been declared. This is the third time since 2000 that there have been revenue failures for the state budget in two consecutive years; it also happened in 2002-03 and 2009-10. How did the State of Oklahoma (once again) get here? And does the budget outlook for next year look any better? Our guest is Gene Perry, the Policy Director at the nonprofit OK Policy Institute.