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Committee adopts FY2025 revenue projection; FY2026 revenue projection remains undecided after split votes

2123316 · January 16, 2025
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Summary

The Joint Finance-Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee’s FY2025 general fund revenue projection but failed to secure a bicameral majority on competing FY2026 projections, postponing a final FY2026 choice.

The Joint Finance-Appropriations Committee voted unanimously to adopt the Economic Outlook and Revenue Assessment Committee’s recommended general fund revenue projection of $5,990,000,000 for fiscal year 2025, a motion moved by Senator Woodward and seconded in committee.

Keith Bybee, Division Manager of the Budget Policy Analysis Division, explained the two numbers before the committee: the ERAC recommendation for FY2025 at $5,990,000,000 and the…

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