There’s less money to fight over at the Capitol these days. The state’s current fiscal year forecast is for $34.099 billion, as reported by Jim Muschinske, revenue manager of the state’s Commission on Government Forecasting and Accountability. He told lawmakers on the panel, “The forecast for Fiscal Year 16 is $32.139 billion, which is an additional falloff of $1.960 billion, (which) obviously takes into account the … income tax rates, which started to go down in January of this year.”
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Jan. 1, when the state's personal income tax rate fell from 5 percent to 3.75 percent, is halfway through the state's fiscal year.