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Committee hears governor's budget projects roughly $700 million structural surplus for 2025-26
Summary
Legislative staff told the Joint Finance-Appropriations Committee that Idaho's current revenue forecast leaves a structural gap of about $700 million between recurring revenue and projected recurring expenditures for the next business cycle, giving policymakers room for tax relief or program increases but creating trade-offs.
Keith Bybee, division manager for budget policy analysis in the Legislative Services Office, told the Joint Finance-Appropriations Committee that the governor's budget projects ongoing revenues will exceed ongoing expenditures by roughly $700 million over the next business cycle, based on the administration's revenue forecast for fiscal 2025 and 2026.
That figure reflects a shift from the COVID-era revenue peak and a new baseline driven in part by population growth and resulting income-tax collections. Bybee said Idaho's general fund rose from about $4 billion to more than $6.2 billion during the pandemic period and that the state's new normal is closer to the…
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