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Committee adopts FY2025 revenue projection of $5.99 billion; FY2026 revenue decision postponed after divided votes
Summary
The Joint Finance‑Appropriations Committee on Friday voted to set the statewide revenue number for fiscal year 2025 at $5,990,000,000, adopting the Economic Outlook and Revenue Assessment Committee's recommendation.
The Joint Finance‑Appropriations Committee on Friday voted to set the statewide revenue number for fiscal year 2025 at $5,990,000,000, adopting the Economic Outlook and Revenue Assessment Committee's recommendation.
"For fiscal year 2025, I moved at the joint Finance and Appropriations Committee adopt the Economic Outlook and Revenue Assessment Committee's recommended general fund revenue projection of $5,990,000,000 for setting state agency budgets," Senator Woodward said when offering the motion. The motion was seconded by Co‑Chair Horman.
Senators and representatives cast roll‑call votes under a voting arrangement that requires a majority from both the Senate and the House before the committee forwards items to either floor. Committee staff recorded the result as 10 senators and 10 representatives voting "aye," and no nays or excused absences; the motion passed.
The committee then considered a FY2026 revenue projection. Members debated three competing figures: the Economic Outlook committee's recommendation of $6,400,000,000; the governor's recommendation reported in committee materials of about $6,261,000,000; and a substitute motion for $6,330,000,000. After votes on the substitute and on the original motion, the committee did not obtain a majority from both houses and therefore did not approve a FY2026 base revenue number.
Senator Woodward described the substitute as a conservative compromise. Supporters of the higher forecast urged the committee to follow the economic outlook panel's recommendation; opponents said a lower number would reduce the risk of midyear supplemental requests. Because neither the substitute nor the original motion secured a majority in both chambers, the committee postponed deciding the FY2026 revenue number for a later meeting.
The revenue numbers will set the baseline for agency budgets, and the committee chair said members will return to the FY2026 projection in a future session.
