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JFAC briefed on FY2025–26 revenue outlook, $700 million structural balance and spending options
Summary
Legislative analysts told the Joint Finance-Appropriations Committee the state faces a roughly $700 million structural surplus in the near term and outlined governor and agency budget proposals, transfers and an expected $338 million projected cash balance for FY2025.
The Joint Finance‑Appropriations Committee heard a broad overview of Idaho’s fiscal position and the governor’s budget recommendations, including revenue projections, proposed transfers and the administration’s program‑level spending plan.
Keith Bybee, division manager for budget policy analysis at the Legislative Services Office, told the committee the revenue forecast powering the governor’s FY2025 and FY2026 recommendations projects ongoing general fund revenues above the pre‑pandemic trend line because of population growth and other factors. He said the governor’s recommendation leaves a structural surplus — the difference between ongoing revenues and ongoing obligations — of about $700 million in both 2025 and 2026 under current forecasts.
That structural balance is the source of the committee’s policy choices, Bybee said: “you have a lot of choices,” including tax relief, program increases and one‑time spending. The governor’s package shown to the committee includes roughly $5.65…
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