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Economic and Revenue Forecast Council approves updated revenue forecast, cites tax timing and stronger receipts
Summary
The Economic and Revenue Forecast Council approved a February 2026 revenue forecast that raises near‑term revenue estimates after stronger taxable sales, early implementation of tax changes and a large unclaimed property payment. The council approved the forecast by voice vote with no roll call.
The Economic and Revenue Forecast Council approved an updated state revenue forecast on Feb. 16, 2026, projecting higher receipts in the current and upcoming biennia driven by stronger taxable sales, legislative tax changes and a large one‑time payment.
Dave Reich, executive director of the Economic and Revenue Forecast Council, said the council entered the update “about 3.9% or $340,000,000 above” the prior baseline and that the update produces an estimated increase of about $827,000,000 (roughly 1.1%) for the current biennium. He said the next biennium…
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