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State revenue forecast largely unchanged; experts flag volatile estate and corporate receipts
Summary
Tom Cabette told the joint Senate Finance and Appropriations committees that state revenues through the first six months closely matched the July forecast; he warned that estate and corporate receipts remain highly volatile and could drive year-to-year swings in the general fund.
Tom Cabette of Tom Cabette and Associates told a joint meeting of the Senate Finance and Senate Appropriations committees that state revenue collections through the first six months of the fiscal year were ‘‘really close to expectations,’’ leaving the updated five‑year forecast largely unchanged from July.
Cabette pointed to very small variances across the state’s major funds — about 0.1…
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