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Joint Finance adopts FY2025 revenue projection of $5.99 billion
Summary
The Joint Finance and Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee's FY2025 general fund revenue projection of $5.99 billion on a unanimous 20-0 vote (majorities from both chambers).
Senator Woodward moved that the Joint Finance and Appropriations Committee adopt the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 to set state agency budgets for fiscal year 2025. Co-chairing members and committee staff processed the vote using separate tallies for the Senate and House, as required by committee practice.
The motion was seconded by Cochair Horman and carried unanimously. Committee staff announced the roll-call totals: the Senate vote was 10 yeas, 0 nays, 0 absent; the House vote was 10 yeas, 0 nays, 0 absent for a combined total of 20 yeas, 0 nays. Chairman Groh declared the motion passed.
Analysts had described the Economic Outlook and Revenue Assessment Committee (EORAC) recommendation before the vote; the EORAC figure for FY2025 was $5.99 billion while the governor's recommendation shown on the packet was lower. Senators and representatives said the committee was adjusting agency budget settings to reflect updated revenue numbers produced by the EORAC.
