LANSING - Fox 17 News is in Lansing for the next 24 hours as state lawmakers have until Wednesday night to balance the dwindling budget.

Lawmakers have to cut $2.8 billion, not an easy task. And it looks like they will be working non-stop until Wednesday night's deadline.

There were two big developments Tuesday. The MIchigan House voted to cut state aid to local libraries by 40 percent, which means a $4 million funding cut to libraries across the state. Meanwhile, a committee vote shaved state revenue sharing to local towns and cities by 11 percent.

For the city of Grand Rapids alone, the proposed cuts in library funds, along with possible cuts to Renaissance zone funding, would mean a loss of $150,000 a year. The cuts are so significant, it would mean a loss in federal funding as well, Kristen Corrado, Director of Marketing and Communications for the Grand Rapids Public LIbrary told Fox 17 News. That could mean library visitors will not have access to state-wide catalogs of information because they wouldl be too expensive to operate. All at a time when library usage has dramatically increased due to the economy.

"Libraries are the core of the community," said Corrado. "They're the center place where people find information, and if you lose that then you are devastating our state even more."

The state Senate still has to vote on the proposed library cuts.

Also Tuesday, a conference committee voted to cut Michigan's tax revenue sharing payments to local communities by 11 percent. Revenue sharing provides money to cities to use to pay for police, firefighters and other services. Both the state House and Senate still must vote on the cuts, and the Governor must sign the final budget.

We'll keep you updated online and on-air on Fox 17 news as changes are made and bills are passed.