Economic and Revenue Forecast Council adopts updated revenue forecast

The Economic and Revenue Forecast Council moved to adopt the updated revenue forecast after staff presentation and discussion. A member moved and another seconded the motion; the chair called for an oral voice vote and announced adoption.

“So moved,” a member said when proposing acceptance of the forecast. The chair then conducted an oral vote and declared: “The forecast is adopted.” The transcript shows no recorded opposing votes during the oral tally.

Council members and staff discussed the timing of further updates — Reich noted the RFC will re-examine assumptions in the November forecast as new federal tax data and caseload projections arrive. The adoption authorizes use of the RFC staff numbers for forthcoming budget work until the November update is released.