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State lawmaker urges repeal of 4.5% out-year revenue assumption to avoid future budget shortfalls
Summary
Representative Couture told the House Appropriations Committee HB 1411 would remove a fixed 4.5% revenue growth assumption and require out‑year estimates to use the Economic and Revenue Forecast Council forecast, saying the static assumption has contributed to recurring deficits.
Representative Couture urged the House Appropriations Committee to pass House Bill 1411, which would repeal the statutory 4.5% annual revenue growth assumption used for the out‑year budget outlook and instead require the legislature to base those out‑year revenue projections on the Economic and Revenue Forecast Council (ERFC) forecast.
Couture told the committee the 4.5% assumption, adopted in 2012, has been “overly optimistic” in many years and contributed to mid‑cycle deficits, using a mix of factors that he said include spending growth outpacing…
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