JFAC adopts FY2025 general fund revenue projection at $5.99 billion

The Joint Finance‑Appropriations Committee voted to adopt the Economic Outlook and Revenue Assessment Committee’s recommended FY2025 general fund revenue projection of $5,990,000,000 for the purpose of setting state agency budgets.

Senator Woodward moved the motion on behalf of the Economic Outlook committee and Representative Penske and Co‑Chair Horman participated in the proceedings; the committee’s analysts explained the difference between that figure and the governor’s lower recommendation. After discussion the committee proceeded to a recorded vote. Committee leadership read the roll for both houses under a voting arrangement that requires majorities in both the Senate and the House to carry measures out of JFAC.

The committee reported the Senate vote as 10 ayes, 0 nays, 0 absent and the House vote as 10 ayes, 0 nays, 0 absent, for a combined total of 20 ayes, 0 nays. Chairman Groh announced the majority from both houses had voted in the affirmative and the motion passed.

Committee materials show the adopted FY2025 figure will be used to set statewide agency budgets for the remainder of the fiscal year; analysts said the number came from the Economic Outlook and Revenue Assessment Committee’s updated revenue outlook and that committee adjusted its projection upward from earlier guidance.

Motion text (as moved): "For fiscal year 2025, I moved that the Joint Finance and Appropriations Committee adopt the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 for setting state agency budgets."