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Joint Finance Committee adopts FY2025 general fund revenue projection; FY2026 revenue choice postponed after divided votes
Summary
The committee adopted the Economic Outlook and Revenue Assessment Committee's FY2025 general fund revenue projection but could not reach a majority in both houses on competing FY2026 forecasts and postponed the FY2026 decision.
The Joint Finance and Appropriations Committee adopted the Economic Outlook and Revenue Assessment Committee (EROAC) recommendation for the fiscal year 2025 general fund revenue projection and set agency budgets to that amount, while debate over fiscal year 2026 revenue projections ended without a conclusive, bicameral majority.
Senator Woodward moved that the joint committee adopt EROAC’s FY2025 general fund revenue projection of $5,990,000,000 for setting state agency budgets. The motion was seconded. The committee recorded a unanimous vote: a combined total of 20 ayes, 0 nays…
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