BOISE, Idaho (AP) — The Legislature’s economic forecasting panel is more pessimistic than Gov. C.L. “Butch” Otter, predicting Idaho will reap $70 million less in tax revenue than the chief executive does for fiscal year 2010.
The GOP-dominated Economic Outlook and Revenue Assessment Committee voted 13-5 Wednesday to recommend state budget writers set a spending package based on just $2.28 billion in revenue for the year ending June 30.
That’s below the $2.35 billion forecast favored by Otter, whose 2010 budget plan already aims to trim $40 million more from agency spending by year’s end.
By contrast, Wednesday’s dour forecast calls for budget writers to slash 2010 spending by $110 million, or supplement that with reserves slated to be drawn down in 2011.
The forecasting panel also recommended a $2.29 billion revenue target for 2011, $59 million less than the plan Otter announced Jan. 11.
