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Revenue panel recommends lower general‑fund estimates than governor; JFAC accepts report
Summary
The Economic Outlook and Revenue Assessment Committee recommended lower general‑fund revenue estimates than Governor Brad Little for fiscal years 2025–2026; the Joint Finance‑Appropriations Committee accepted the committee report by unanimous consent.
The Economic Outlook and Revenue Assessment Committee told the Joint Finance‑Appropriations Committee that it recommends lower general‑fund revenue estimates than those submitted by Governor Brad Little for the next two fiscal years.
"Idaho's constitution Article 7, Section 11, requires balancing the state's appropriations and expenditures within its revenues," said Senator Kevin Cook, cochair of the Economic Outlook and Revenue Assessment Committee, summarizing the committee’s role and its review process.
The committee recommended total general‑fund revenues available for appropriation of $5,990,000,000 for fiscal year 2025 and $6,400,000,000 for fiscal year 2026. Those figures are below the governor’s projections: Governor Little’s recommended general‑fund revenues were $5,947,800,000 for 2025 (the committee’s median was $5,790,000,000) and $6,407,600,000 for 2026 (the committee’s median was $6,032,000,000). The committee’s report described its medians as 2.7% below the governor’s 2025 number and 5.9% below the governor’s 2026 number; the committee expressed caution about appropriating above its recommendation given economic uncertainty.
Representative Jeff Ehlers, also a cochair of the Economic Outlook and Revenue Assessment Committee, thanked committee members and outside expert witnesses for their work in producing the assessment.
The JFAC cochairs asked for and received unanimous consent to accept the committee’s report. Cochair Horman made the motion to accept the report; Senator Woodward seconded by indicating support. No roll call vote was taken; the chair announced no objections and the report was accepted.
Why it matters: Idaho statute and the state constitution require the legislature to balance appropriations to available revenues. The committee highlighted uncertainty tied to Federal Reserve policy and the presidential election cycle as reasons to be cautious when setting appropriations above committee revenue estimates. The recommended numbers provided the baseline JFAC will use as it proceeds with program maintenance and other budget decisions.
What was not decided: The committee recommended revenue figures for planning; the legislature will still make final appropriation decisions. JFAC members noted that accepting the report does not bind later appropriations decisions and that members will vote on finalized budget motions in coming sessions.
