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JFAC adopts $5.99 billion general fund revenue projection for FY2025
Summary
The Joint Finance‑Appropriations Committee voted unanimously to use the Economic Outlook and Revenue Assessment Committee(EORAC) revenue estimate of $5.99 billion when setting state agency budgets for fiscal year 2025.
The Joint Finance‑Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee(EORAC) recommendation of $5,990,000,000 in general fund revenues for fiscal year 2025, a number members said reflects updated revenue information and will be used to set state agency budgets.
The vote passed with a majority in both chambers of the committee: 10 senators and 10 representatives voted in favor for a 20‑0 final tally. Senator Woodward made the motion and Representative Horman seconded it after analysts summarized the EORAC recommendation.
Why it matters: JFACuses the revenue figure it adopts to calibrate agency budgets. Choosing the EORAC figure rather than the governor's lower recommendation raises the amount available for agencies and reduces the likelihood of immediate supplemental requests.
Analyst Keith Bybee told the committee the EORAC number reflected the committee's most recent review of receipts and economic indicators and contrasted it with the governor's recommendation. Members who spoke in favor said the updated data warranted the change.
Procedure and next steps: Committee staff noted the adoption is the baseline used while the panel continues work on other statewide budget decisions. The committee recorded the motion and the unanimous vote; staff said the committee will carry this revenue baseline into the remaining budget deliberations.
Votes at a glance: Motion to adopt EORAC FY2025 general fund revenue projection of $5,990,000,000 — outcome: approved (yes: 20; no: 0).
