Tag Archives EORAC

On Tuesday, members of the Economic Outlook and Revenue Assessment Committed projected Idaho would take in $2.667 billion in fiscal year 2013, a number $33 million less than the figure projected by Gov. Butch Otter. That means that lawmakers may be forced to choose which Otter-backed initiatives to pursue next year. In his budget for 2013, Otter laid out plans…

Mike Ferguson, the official top Idaho economic forecaster for 26 years, is turning his focus back to tax revenues.  Ferguson, the former state chief economist, is leading the new Idaho Center on Fiscal Policy, which aims at shaping future discussions of collecting and spending tax dollars. “We’re going to be trying to cut through the fog and state information clearly,…

A new state economic forecast predicts Idaho will take in $2.6 billion during the current budget year, a slight increase from earlier predictions, though it also cautions that the economy is still recovering slowly. “The Idaho economic outlook turned unseasonably cool this summer, which is a slight change from spring’s warming trend,” began the new forecast, prepared by the Division…

Idaho's Joint Finance-Appropriations Committee (JFAC), which writes the state budget, accepted on Friday tax revenue recommendations the Economic Outlook and Revenue Assessment Committee (EORAC) set on Thursday. The recommended revenue target follows figures in the governor's budget, though lawmakers will decide a final revenue number to balance the budget to at a later date. “At some point, we're going to…

A panel of lawmakers agreed to Gov. Butch Otter's Idaho tax revenue projections, but reserved the right to change its recommended target if tax revenues tumble or surge. Gov. Butch Otter's proposed budget expects tax revenues to grow by 4.2 percent to $2.359 billion for the current budget year and by 3 percent to $2.429 billion in the next budget…

Bullish predictions for Idaho's economy and tax collection during the next 18 months are key to Gov. Butch Otter's proposed budget, and lawmakers will have the chance Thursday to sign off on the governor's recommendations or adjust them up or down. The governor projects tax revenues will see 4.2 percent growth in the current budget year and an additional 3…

Rep. Cliff Bayer, R-Boise, may be looking to inflict a little budgetary pain upon himself. Bayer, set to serve his fifth term in the Idaho House of Representatives, announced last week that he plans to oppose Rep. Mike Moyle, R-Eagle, in the race for majority leader.  The Boise Republican told IdahoReporter.com Monday he is running opposite Moyle not necessarily because of…

Idaho budget writers have set their revenue targets, which will help determine how much the state can spend during the next 17 months. The Joint Finance-Appropriations Committee (JFAC) chose a $2.28 billion figure for the current budget, and $2.29 billion for the next budget, which starts in July. Those totals were chosen by a panel of lawmakers last month, and…

Idaho lawmakers will set the revenue targets on Friday that will shape the current and next state budgets. Joint Finance-Appropriations Committee (JFAC) co-chair Rep. Maxine Bell, R-Jerome, said the committee will choose the revenue projections set by a different panel of lawmakers last month. Those figures, $2.28 billion for the current budget and $2.29 billion for the next fiscal year,…

The lawmakers who write the state budget have accepted the tax revenue projections voted on by a different panel of lawmakers last week.  But that forecast could change by the end of next week. The projections from the Economic Outlook and Revenue Assessment Committee (EORAC) last week call for $2.28 billion in revenues in the current budget and $2.29 billion…

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