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UPDATED: Budget gap hits $2.6B; tax hikes suggested

State revenue forecaster Arun Raha said today the state's expected revenue through June 2011 has fallen by another $760 million.

That brings the state's predicted revenues for the 2009-11 period have shrunk by $5.3 billion since February 2008, and it means revenues for the period will be 3.3 percent lower than in the last budget cycle.

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