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JFAC adopts FY2025 revenue projection of $5.99 billion; FY2026 revenue decision postponed after split votes
Summary
The Joint Finance‑Appropriations Committee voted to set the FY2025 general fund revenue projection at $5,990,000,000 (Economic Outlook and Revenue Assessment Committee recommendation). Multiple motions over FY2026 revenue failed to secure a majority of both houses and the committee postponed the FY2026 revenue decision.
The Joint Finance‑Appropriations Committee voted to set the fiscal‑year‑2025 general fund revenue number at $5,990,000,000, following a motion by Senator Woodward to adopt the Economic Outlook and Revenue Assessment Committee’s (EORAC/ EROC) recommendation.
Senator Woodward moved the EORC recommendation; the motion was seconded and passed on a roll call. The committee clerk reported unanimous support in both chambers: 10 ayes and 0 nays in the Senate and 10 ayes and 0 nays in the House for a total of 20 ayes, 0 nays.
Committee staff (Keith Bybee, Division Manager, Budget Policy Analysis Division) then presented competing FY2026 revenue recommendations. The economic outlook committee had recommended a $6,400,000,000 projection while the governor’s recommendation presented a lower $6,261,000,000 figure. Representative Petsky (later recorded as Pesky in the transcript) moved to adopt the economic outlook recommendation of $6.4 billion. Senator Woodward offered a substitute motion to adopt a $6.33 billion projection as a compromise between the two. Members debated the merits of conservative versus more optimistic revenue assumptions.
The substitute (6.33 billion) failed on a roll call that left the overall tally short of the required majority from both houses; when the committee voted on the original motion (6.4 billion), the motion likewise failed to secure a majority in both chambers. Committee leadership announced the FY2026 revenue decision would be postponed for later consideration.
Staff emphasized differences in the numbers and said the governor’s office had provided a lower recommendation for budgeting purposes; the committee discussed political and procedural reasons for requiring majority support in both chambers before sending budget assumptions to the floors.
Outcome summary: FY2025 revenue projection adopted at $5,990,000,000; FY2026 revenue projection not adopted and deferred for later action.
