State gov't faces $900M budget shortfall

October 14, 2009 (WLS) -- Gov. Pat Quinn's office says the state government now faces an additional $900 million budget shortfall.

Income tax revenue is $850 million lower than projected because of climbing unemployment. And gambling revenue is $50 million lower than expected because a Joliet casino was closed for several months after a fire.

State budget director David Vaught says fixing the deficit will require more spending cuts, borrowing and quick action to raise income taxes early next year.

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