CHICAGO - The Ohio legislature was poised yesterday to approve a new, two-year $52 billion budget that wipes out a $3.2 billion shortfall through more than $2 billion in cuts and $933 million in new funding expected from expanded gaming.

The state entered the new fiscal biennium July 1 with a temporary budget in place due to an impasse between Democratic Gov. Ted Strickland and Republicans, who control the Senate, over the governor's proposal to allow video slot machines at the state's seven racetracks.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.