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JFAC accepts EROC revenue recommendations, setting lower revenue baseline for budgeting
Summary
The Joint Finance-Appropriations Committee accepted the Economic Outlook and Revenue Assessment Committee(EROC) median revenue recommendations for FY2025 and FY2026 by unanimous consent, putting a more cautious revenue baseline into JFACplanning.
The Joint Finance-Appropriations Committee on Monday accepted the Economic Outlook and Revenue Assessment Committee(EROC) recommendations that set total general fund revenues available for appropriation at $5.99 billion for fiscal 2025 and $6.40 billion for fiscal 2026.
The EROC co-chair, Senator Kevin Cook, told JFAC the committee had reviewed business, tax and financial data and testimony from economists and industry representatives and produced median projections that were lower than the…
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