On Wednesday, October 15, 2008, faced with an estimated budget deficit of $1.4 billion, Governor Deval Patrick started implementing a fiscal action plan to close the gap that includes more than $1 billion in immediate cuts and spending controls across state government, identifying additional revenues and a responsible draw on reserves. The announcement comes as the Administration has revised the state's revenue estimate, on which the budget is built, by approximately $1.1 billion.
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