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Sen. Grow outlines JFAC budget process and $155 million revenue shortfall
Summary
Sen. Grow told the Senate Health & Welfare Committee that JFAC's budget work hinges on revenue projections, noting a forecasted loss of $155 million from individual taxes and that tax conformity choices affect resident benefits and projected revenue levels.
Senator Bill Grow, co-chair of the Joint Finance-Appropriations Committee, told the Senate Health & Welfare Committee the JFAC budgeting process starts with revenue projections and that recent projections did not include the effects of tax conformity. "The forecasted loss in revenue from individual taxes was $155 million," Grow said, and he explained that if Idaho chose not to conform for 2025, residents would forfeit roughly 25 percent of certain benefits or deductions for that year.
Grow said JFAC's approach looks beyond one-year estimates and that the committee is balancing short-term gaps against longer-term structural concerns. He noted JFAC was working to address income uncertainty as officials weigh whether to rely on one-time conformity-related receipts or to plan for reduced recurring revenue. The committee did not take formal action at the meeting; Grow's remarks were offered as context for subsequent Medicaid and statewide budget briefings.
