Last Friday’s monthly state revenue report showing net taxes in March were 13.4% or $56-million dollars under projections has the chairman of the Legislature’s Revenue Committee warning that spending and tax relief measures will likely be trimmed.
      Lou Ann Linehan says she expects the state Economic Forecasting Board to lower its projections for the current fiscal year and possibly future years as well when it meets next week on the 26th.
Linehan expects revenue to still be high enough to fund Gov Jim Pillen’s income and property tax cuts, but thinks other measures – such as a research-and-development credit and an offset to federal limits on deducting state and local taxes – might have to wait until next year.