Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
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er package of tax restructuring that fully addresses their budget impact.”
Warner said the two largest general fund revenue sources (withholding and sales taxes, which together comprise 84 percent of the general fund) are running behind their estimates for the year.
Given the state’s $2.1 billion budget shortfall, Warner said he was “greatly concerned” that both houses have voted this year to repeal the estate tax.
Warner said the repeal would reduce state revenue by $211.2 million in 2004-06. “Neither house has made provisions for the reduced revenue,” he wrote.
“The legislature has chosen to spend tomorrow’s revenue today — in effect, writing a postdated check that must be cashed in the next budget,” he said.
94.9%