In conjunction with IHS Global Insight, the Senate Finance Committee reviewed and analyzed the economic and revenue projections contained within the Executive Budget for FY 2015. Based upon IHS Global Insight’s February economic forecast, the Senate Finance Committee projects $265 million in General Fund revenues (inclusive of miscellaneous receipts) above the Executive Budget forecast for FY 2015. This amount is enhanced by the estimate for the remainder of FY 2014, which is $88 million above than the Executive estimate. Therefore, the two year General Fund receipts forecast is $353 million above the Executive forecast.
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