Wednesday, May 15, 2013

Ferguson: 'Profound Implications' From Idaho Legislature's $162 Million Under-Projection

Posted By on Wed, May 15, 2013 at 3:04 PM

Mike Ferguson has a familiar message to the 2013 Idaho Legislature: they got it wrong ... again.

The former chief economist for the State of Idaho and current honcho for the Idaho Center for Fiscal Policy took a look at the latest Idaho General Fund Report and wrote that the latest revenue results have "profound implications" for the 2014 legislative session.

Simply put, as its stands now, the State of Idaho has $162 million more than budgeted...and existing law requires that at least half of the so-called surplus must be sent to a Budget Stabilization Fund.

“While the numbers will change (for example, we don’t yet know actual May and June revenue numbers, and we don’t know what revised forecast growth rate will be used for FY 2014), it is clear there will be substantially more revenue available than policymakers thought less than two months ago," wrote Ferguson. "How this additional revenue is utilized will depend on Idaho’s public policy priorities.”

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