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JFAC adopts $6.4 billion FY2026 general fund revenue forecast
Summary
The Joint Finance-Appropriations Committee voted to adopt the Economic Outlook and Revenue Assessment Committee’s $6.4 billion revenue projection for FY2026 after a brief debate about timing and collections.
The Joint Finance-Appropriations Committee voted to adopt a $6.4 billion general fund revenue forecast for fiscal year 2026, the committee’s staff told members as they moved to finalize the near-term revenue picture.
Mr. Bybee, a Legislative Services Office staff member who briefed the committee on the Economic Outlook and Revenue Assessment Committee report, said the advisory committee recommended a $6.4 billion revenue number for FY2026 and that the recommendation largely agreed with the governor’s economic forecast.
Senator Wintrow asked whether the recommendation accounted for preliminary revenue projections that showed collections running behind the forecast; Mr. Bybee replied that, while collections were running slightly behind the forecast, general fund revenues were still projected to be up 2.9 percent over the prior year and that the committee’s largest revenue months (April and June) were still to come.
Committee members debated timing. Senator Janie Ward Engleking announced she would vote no, saying she prefers setting a revenue projection earlier in the session before considering tax cuts or reductions. Supporters said adopting the $6.4 billion number would allow the Legislature to maintain essential services while pursuing tax relief where possible.
The roll call produced a final count of 16 ayes, 2 nays, and 2 members absent or excused; the committee chair declared the motion adopted and the $6.4 billion figure the working revenue number for FY2026.
Why it matters: The revenue number is the baseline for appropriations and policy choices during the session; adopting a higher or lower forecast changes the envelope available for spending and tax actions.
