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Revenue advisers urge cautious budgeting, recommend $5.99B for FY2025 and $6.4B for FY2026
Summary
The Joint Finance Committee accepted the Economic Outlook and Revenue Assessment Committee's median revenue recommendations after a briefing by EROC co-chairs; the committee urged caution about appropriations above its recommended totals, citing economic uncertainty.
The Joint Finance-Appropriations Committee accepted the Economic Outlook and Revenue Assessment Committee's (EROC) revenue recommendation, which sets available general fund revenues at $5,990,000,000 for fiscal year 2025 and $6,400,000,000 for fiscal year 2026.
Senator Kevin Cook, co-chair of EROC, told the JFAC hearing that the committee "completed our overall assessment of Governor Little's general fund revenue projections" and reviewed testimony from economists, business leaders and industry spokespeople. Cook presented the committee's medians and differences with the governor's projections, saying the committee found the governor's FY2025 estimate to be higher than its median and…
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