Byline: Phil Sletten

Posts by Phil Sletten

No clear signal of revenue improvements from April as next state budget looms

read more…: No clear signal of revenue improvements from April as next state budget looms

State revenues in April, the most important month for revenues on the calendar, followed similar patterns to revenues for most of the fiscal year thus far: underwhelming and short of target, but not low enough to dramatically change the outlook for the next biennium. These April figures provide the last significant piece of information before the Senate Ways and Means Committee makes revenue projections for the next State Budget biennium to guide the Senate Finance Committee’s decisions.

House Finance Committee’s plan reduces funding by $643M from Ayotte’s proposal, leaves $113M for ‘Rainy Day Fund’

read more…: House Finance Committee’s plan reduces funding by $643M from Ayotte’s proposal, leaves $113M for ‘Rainy Day Fund’

The House Finance Committee voted on Thursday, April 3, to adopt amendments to the Governor’s proposed versions of House Bills 1 and 2, the two bills that comprise the State Budget, for State Fiscal Year (SFY) 2026 and 2027.

November state revenue falls behind planned levels amid declining business tax receipts and lower interest payments

read more…: November state revenue falls behind planned levels amid declining business tax receipts and lower interest payments

State revenues slipped further behind expectations in November as key sources the State had been relying on for revenue growth fell behind the prior fiscal year’s receipts. Lower business tax receipts added to the year-to-date revenue deficit, with revenues thus far this fiscal year $76.4 million (20.9 percent) behind last year’s combined business tax collections.

Budget headwinds and tailwinds: Looking ahead to the next state budget cycle

read more…: Budget headwinds and tailwinds: Looking ahead to the next state budget cycle

The Legislature will work to pass a new state budget in 2025. After four budget cycles that began with surpluses, the next cycle may be more challenging. Service reductions are not a certainty for the new budget, but policymakers face significant headwinds to sustain past investments.

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Header photo by Dan Splaine – www.dansplainephotography.com