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Panel Projects More Reductions in State Revenues

By Becky Ogann

Story Created: Dec 12, 2008 at 3:08 PM CDT

Story Updated: Dec 12, 2008 at 3:08 PM CDT

DES MOINES (AP) - A panel say Iowa's 2009 state revenues will be nearly $100 million less than previously forecast.

The Revenue Estimating Conference on Friday lowered its 2009 projection by $99.5 million. The panel lowered the estimate for 2010 even more - by $132.6 million.

The projection came just days after Gov. Chet Culver outlined $75 million in spending cuts, including the delay in construction of a state office building in Des Moines.

The Revenue Estimating Conference meets quarterly to set projections on the amount of money available to the state in the current year and the next year.

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