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JFAC accepts Economic Outlook and Revenue Assessment Committee report; recommends lower revenue assumptions
Summary
The Joint Finance-Appropriations Committee accepted the EROC committee's revenue recommendations by unanimous consent, endorsing lower general fund revenue assumptions for fiscal 2025 and 2026 than the governor's forecast and urging caution on appropriations above the committee's figures.
The Joint Finance-Appropriations Committee accepted the Economic Outlook and Revenue Assessment Committee (EROC) report by unanimous consent, endorsing the committee's recommended general fund revenue figures and urging caution on appropriations above those amounts.
The EROC committee recommended total general fund revenues available for appropriation of $5,990,000,000 for fiscal year 2025 and $6,400,000,000 for fiscal year 2026. Those figures are lower than Governor Little's projections: the governor's 2025 estimate and 2026 estimate were both higher, and the EROC…
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