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Revenue committee urges cautious budgeting, recommends $5.99B for FY2025 and $6.4B for FY2026
Summary
The Economic Outlook and Revenue Assessment Committee told JFAC it sees lower median revenue than the governor but recommends using $5.99 billion for fiscal 2025 and $6.4 billion for fiscal 2026, urging caution because of economic uncertainty.
The Economic Outlook and Revenue Assessment Committee recommended that the Joint Finance-Appropriations Committee (JFAC) use $5,990,000,000 in general fund revenue for fiscal year 2025 and $6,400,000,000 for fiscal year 2026.
The committee presented its findings to JFAC during the committee's meeting. Senator Kevin Cook, co-chair of the EROC committee, summarized the committee’s review of business, tax and financial data and testimony from economists and…
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