January revenue off by $33.1 million

January’s state tax revenues came in $33.1 million below projections, which puts the state $43.6 percent million below projections for the fiscal year to date. That means more holdbacks. This morning, JFAC is scheduled to take up additional budget cuts for the current, 2009 fiscal year of 2 percent. The joint budget committee also will set budget targets for the coming year, fiscal year 2010.