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House Taxation hears HJ 2 revenue estimate; LFD urges caution on out‑year volatility
Summary
Legislative Fiscal Division staff presented the three‑year revenue estimate in HJ 2, showing a modest out‑year growth trajectory but warning that capital gains and macroeconomic shifts create significant uncertainty for fiscal 2026–27. Members asked for updated forecasts and weekly status sheets.
Legislative Fiscal Division director Amy Carlson introduced House Joint Resolution 2 and the LFD team, and Sam Schafer walked the House Taxation Committee through the adopted three‑year revenue estimate for fiscal 2025–27.
Schafer told the committee the adopted HJ 2 numbers reflect current‑law assumptions and a set of common economic inputs, noting the estimate includes general fund and select state special revenues that fund major programs. He reported fiscal‑year 2024 collections totaled about $3.3 billion and the adopted forecast projects roughly $3.27 billion for…
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