Last Wednesday, the Governor and legislative leaders released the Consensus Revenue Forecast, which predicts that the state’s revenues over the next two years will be $200 million higher than the Governor originally predicted in Executive Budget.  The forecast projects “continued modest economic growth for 2017” but “multiple risks to the economic outlook for the national and State economies.”

These potential risks, which could undermine future state revenues, include slow global economic growth; energy price volatility; as well as potential federal fiscal policy changes that could have significant impacts on the state’s finances.

Reaching agreement on a consensus revenue number is a key step in moving toward an on-time 2017-18 state budget.