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Committee briefed on statewide decisions: two revenue forecasts, benefit adjustments and competing compensation proposals
Summary
Legislative staff presented options for FY2026 general fund revenue forecasts, personnel benefit cost adjustments, contract inflation and change‑in‑employee‑compensation (CEC) proposals; staff and DFM warned that alternative benefit funding could deplete reserves and increase future costs.
Legislative staff presented the Joint Finance Committee with the statewide decision packet that will form the basis of multiple FY2026 budget votes, including two alternative general fund revenue forecasts, personnel benefit cost adjustments (notably health insurance), contract inflation, statewide cost allocation changes and competing change‑in‑employee‑compensation (CEC) proposals.
Keith Bybee, division manager for budget policy analysis at the Legislative Services Office, walked committee members through the packet and highlighted two revenue options: the governor’s recommended revenue estimate of $6.26 billion and an alternative Economic Outlook and Revenue Assessment Committee (EORAC) projection of $6.40 billion. Bybee said the packet also contains a governor recommendation and a CEC committee…
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