New Hampshire’s Senate has approved $16 million in spending cuts proposed by Governor John Lynch.
The Senate voted yesterday to send the bill to Lynch. The bill was fast-tracked to maximize the savings before the fiscal year ends June 30.
Since February, Lynch and lawmakers have closed $175 million of a revenue gap that keeps growing.
Lynch proposed last week closing the rest of the gap with $50 million in federal stimulus money, $50 million from a surplus in an insurance account and about $38 million from the state’s savings account.