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Committee adopts FY2025 revenue projection; FY2026 forecast fails to win bicameral majority
Summary
The Joint Finance-Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee’s FY2025 general fund revenue recommendation of $5.99 billion, but failed to reach a bicameral majority on competing FY2026 revenue projections and postponed action.
The Joint Finance-Appropriations Committee voted unanimously to adopt the Economic Outlook and Revenue Assessment Committee’s (EORAC) recommended general fund revenue projection of $5,990,000,000 for fiscal year 2025. The committee could not reach the required bipartisan majorities to set a FY2026 revenue number and postponed that decision.
Keith Bybee, division manager of the Budget Policy Analysis Division, summarized the revenue options for members and referenced the EORAC recommendation and the governor’s budget figures. Senator Woodward moved…
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