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Joint finance committee adopts FY2025 revenue projection; FY2026 decision postponed after divided votes
Summary
The Joint Finance-Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee's FY2025 general fund revenue projection of $5.99 billion by unanimous roll call. Multiple competing motions for the FY2026 revenue number were debated; no FY2026 revenue number cleared both houses in committee and the decision was postponed.
Senator Woodward moved that the Joint Finance-Appropriations Committee adopt the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 for fiscal year 2025. The motion carried on a roll-call vote that the chair recorded as a unanimous 20-0 (10-0 in the Senate; 10-0 in the House).
The committee then took up setting a revenue projection for fiscal year 2026. The Economic Outlook and Revenue Assessment Committee had recommended $6.4 billion; the governor's recommendation shown in materials was lower. Representative Petsky (who introduced the FY2026 motion on behalf of the committee) moved to adopt the Economic Outlook and Revenue Assessment Committee's $6.4 billion projection. Senator Woodward offered a substitute motion proposing $6.33 billion.
Committee members debated the substitute and original motions. Senator Woodward described his $6.33 billion figure as a conservative compromise between the committee recommendation and the governor's lower planning number. Representative Petsky and others defended the committee recommendation and said it reflected the work of economists on the Economic Outlook Committee. After roll-call votes, the substitute motion (the $6.33 billion figure) failed to carry the necessary majority of both houses in committee: the combined tally reported was 9 yeas and 11 nays (Senate 6-4 in favor; House 3-7 against), so the substitute failed to achieve the cross-house majority rule the committee uses. The committee returned to the original $6.4 billion motion; that motion also failed to secure the required majority from both houses in the committee (it received a 14-6 combined favorable vote but lacked a majority in one chamber), and the chair announced the original motion failed as well.
Chairman Groh explained the committee's cross-house voting agreement: to send budget-setting items to the floor the committee seeks at least six affirmative votes from each chamber to ensure majority support in both houses. Because neither FY2026 motion achieved that standard, the committee postponed further action on the FY2026 revenue projection for a later time.
Votes at a glance: - FY2025 revenue projection: Motion to adopt EORAC recommendation of $5,990,000,000 — Passed (Senate 10-0; House 10-0; total 20-0). Mover: Senator Woodward; second: Cochair Horman. - FY2026 revenue projection: Multiple motions considered (EORAC $6.4B and substitute $6.33B). Neither motion achieved the cross-house majority in committee; action postponed. Mover for $6.4B: Representative Petsky; substitute mover for $6.33B: Senator Woodward.
Committee members said they would revisit the FY2026 revenue number at a later session after additional review.
