March revenue forecast will be down, Moore says.

Right now, Victor Moore, Director of the Office of Financial Management, is testifying before the House Community, Trade & Economic Development Committee. A minute ago, he was asked about the now-$5.7 billion estimated shortfall, and where he thinks the number will be in March.

“It’s gonna be bigger,” he said. “Because I’m already down 130 million.”

The question, he said, is whether the economic downturn continues through February. Some lawmakers say they expect the shortfall to be around $7 billion by the time the next forecast comes out.

Want to watch the hearing for yourself? Go here.

Tags: Budget, House, Ways & Means