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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 and the committee adopted the EORAC number for FY2025. The roll call produced identical results from both houses: the senate recorded 10 ayes, 0 nays; the house recorded 10 ayes, 0 nays; the joint tally was 20 ayes, 0 nays. "Mister chairman, I'd just say we need to make that adjustment just based on updated revenue numbers," Woodward said in support of his motion.
The committee then considered setting a FY2026 revenue number. Members debated competing proposals: the EORAC-recommended $6.4 billion (moved by Representative Petsky) and a substitute $6.33 billion proposal by Senator Woodward. The substitute was the first up and failed to receive the required majority of both houses: the joint tally was 8 ayes, 12 nays. The committee then voted on the original motion to adopt $6.4 billion. That motion received a total of 14 ayes and 6 nays but did not achieve the requirement of a majority in each chamber (the senate vote was 4 ayes, 6 nays), so the committee did not set a FY2026 revenue number and deferred the decision.
Chairman Groh reminded members of the committee’s voting convention: for measures to move to the floors the committee seeks a majority from both the House and the Senate. Members described the FY2026 debate as a close choice between the governor’s lower recommendation and the higher EORAC forecast; several senators described the compromise positions they preferred.
Ending: The committee adopted a revenue projection for FY2025 that will be used to set agency budgets. Action on the FY2026 revenue projection was postponed after the committee failed to secure a majority in both chambers; members said they will revisit the number later.
