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Joint finance committee adopts FY2025 revenue forecast of $5.99 billion
Summary
The Joint Finance-Appropriations Committee voted unanimously to adopt the Economic Outlook and Revenue Assessment Committee (EORC) revenue projection of $5,990,000,000 for fiscal year 2025, a number members will use to set agency budgets.
The Joint Finance-Appropriations Committee voted unanimously to adopt the Economic Outlook and Revenue Assessment Committee’s revenue projection of $5,990,000,000 for fiscal year 2025.
Senator Woodward moved the motion to adopt the EORC number. After discussion and a recorded roll call, the committee’s Senate and House delegations both voted in favor; the clerk reported a total of 20 ayes, 0 nays, 0 absent or excused.
Committee leadership explained the voting procedure used by JFAC, which requires majorities in both the House and Senate delegations before the committee forwards budget actions to each chamber’s floor. The adopted $5.99 billion number will be used to set state agency budgets for the remainder of FY2025.
No amendments were recorded during the excerpt and the committee chair said other related statewide decisions would proceed on the meeting schedule.
