E-News 12-20-24
STATE GOVERNMENT RELATIONS
Forecast of slow revenue growth leaves fiscal leaders cautious
A new state tax revenue forecast presented to the State Budget Committee highlights a constrained fiscal outlook for legislators preparing the upcoming two-year budget. The forecast anticipates tax collections rising by $732 million, or 3.3%, during the first year of the biennium. However, growth is expected to slow significantly in the second year, with only a $71 million increase, representing just 0.3%.
These modest projections suggest lawmakers may have limited additional revenue to allocate...