Joint Finance Committee adopts $5.99 billion FY2025 revenue projection

The Joint Finance and Appropriations Committee voted unanimously Friday to adopt the Economic Outlook and Revenue Assessment Committee(EORAC) recommendation of $5,990,000,000 in general fund revenue for fiscal year 2025 to set state agency budgets.

The committeeapproved the motion made by Senator Woodward to use the EORAC figure rather than the governorrecommended number for setting agency budgets. The motion was seconded and then carried on a roll-call vote that produced a majority from both chambers: senators and representatives voting in favor totaled 20ayes, 0 nays.

Why it matters: The revenue number chosen by JFAC determines the baseline used across agency budgets and therefore shapes how much state agencies can be funded in the coming year. Committee leaders emphasized that their adopted number provides a common baseline for negotiating appropriations and that they require a majority from both the House and Senate before sending budget items to their respective floors.

Key details: Senator Woodward moved the committee adopt the EORAC projection of $5,990,000,000 for FY2025. Committee leadership explained they will continue to follow the deliberative process that requires majorities in both chambers before taking budget proposals to the floors. The chair asked members to be ready to vote and then read the senate and house tallies before announcing the motion passed.

What the committee said: Senator Woodward told the committee the adjustment was driven by updated revenue numbers. Chairman Groh reiterated the voting procedure that JFAC will seek a majority from both the House and the Senate before sending items to the full chambers, saying that creates stronger support for floor debate.

Next steps: The adopted FY2025 revenue number will be used as the baseline for agency budget settings and incorporated into the statewide maintenance and appropriation work the committee will continue in its next meetings.