IN JULY, SENATOR JOHN ARTHUR SMITH, THE CHAIRMAN OF THE LEGISLATIVE FINANCE COMMITTEE, ASKED GOVERNOR MARTINEZ TO CALL A SPECIAL SESSION TO DEAL WITH A HUGE BUDGET SHORTFALL. SO FAR, THE GOVERNOR HASN’T DONE SO…AND SMITH SAYS THAT COULD BE MAKING THE PROBLEM WORSE.
HE TELLS NEWSRADIO KKOB THE GOVERNOR’S “NO TAX HIKE” PLEDGE IS AN ISSUE. HE ALSO SAYS OTHER OPTIONS … INCLUDING TAX INCREASES … NEED TO BE ON THE TABLE. SMITH SAYS THE STATE, AT THIS POINT, HAS VIRTUALLY NO MONEY IN RESERVES.
SMITH SAYS THE SHORTFALL FROM THE LAST AND CURRENT BUDGET YEARS TOTALS MORE THAN 600-MILLION DOLLARS.
