Lawmakers see Idaho revenue projections lower than governor

A pair of budget-related committees has accepted Gov. Brad Little’s projected revenue of $3.75 billion for the current fiscal year, but reduced it for the following year.

The Joint Finance-Appropriations Committee on Friday accepted a report from the Economic Outlook and Revenue Assessment Committee that met the previous day.

Lawmakers reduced revenue projections by about $100 million to $3.96 billion for fiscal year 2020 compared to Little’s projections.

Lawmakers expressed some uncertainty concerning tax revenues due to changes in tax laws, and worries about a potential economic slowdown.

Lawmakers determine forecasts early during the legislative session so they can begin hashing out if they will also approve Little’s budget priorities.

It’s possible the Joint Finance-Appropriations Committee will adjust the numbers next month as more economic information comes in.