JFAC adopts $5.99 billion FY2025 revenue projection to set agency budgets

The Joint Finance-Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 for fiscal year 2025 to set state agency budgets.

The motion was made on the committee floor by Senator Woodward and seconded by Co-chair Horman. Committee clerks recorded a 20-0 roll-call vote (Senate 10-0, House 10-0); the committee announced the majority of both houses had voted in the affirmative and the motion passed.

The projection replaces the governor's lower recommendation for FY2025 and will be used as the revenue baseline for agency maintenance and statewide budget decisions. Senator Woodward told the committee the adjustment was needed because of updated revenue numbers that came from the economic outlook panel.

Analysts on the dais, including Keith Bybee, Division Manager, Budget Policy Analysis Division, framed the motion as the first of two revenue-number votes (FY2025 and FY2026) and reminded members that the EROC recommendation differs from the governor's budget recommendation. Committee members asked no substantive questions after the motion and proceeded to the recorded roll call.

The vote gives the committee a single, settled FY2025 revenue baseline to use in the upcoming maintenance and agency-setting work.

The committee returns to additional budget items in later sessions; the revenue baseline adopted here will be reflected in subsequent maintenance and agency budget ballots.