CHICAGO — Iowa Gov. Chet Culver yesterday ordered an across-the-board 10% cut in spending to wipe out a shortfall in the state’s $6.3 billion fiscal 2010 budget due to dwindling revenue collections.

The action erases $415 million of red ink announced Wednesday by the state’s formal revenue-estimating conference and provides some breathing room if the economic picture worsens over the remaining nine months of the fiscal year.

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