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Appropriations Committee adopts 2025–27 base revenue forecast; motion carries
Summary
The Senate Appropriations Committee voted to adopt a base revenue forecast to guide the development of the 2025–27 budget, endorsing a proposal that splits differences between executive and consultant estimates for most tax types and retains committee assumptions for oil price and production.
The Senate Appropriations Committee on Tuesday morning voted to adopt a base revenue forecast that will be used to begin development of the 2025–27 budget and for the committee's budget status reports.
The motion — moved by Senator Sorvaugh and seconded by Senator Deaver — carried on a recorded voice vote in which 16 members answered “Aye.” The committee chair said the forecast will be updated in March with more current information before the budget is finalized.
The adopted proposal combines two consultant forecasts for the four major taxes (sales, motor vehicle excise, individual and corporate income taxes) by splitting the difference between the Armstrong (executive) and S&P estimates; other tax types generally follow the Armstrong recommendation. Alan Knudson of the Legislative Council staff told the committee, “this really is a starting point for your beginning development of the 25‑27 budget is to adopt a…
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