ECONOMIC OUTLOOK – FY 2027
Benjamin L. Varner, Chief Economist

Ahead of its FY 2026 and FY 2027 revenue estimates, the Commission has prepared a briefing on recent economic trends and forecasts for 2026 and 2027.

GENERAL FUNDS REVENUES SEE SIZEABLE REBOUND IN FEBRUARY
Eric Noggle, Revenue Manager

After beginning 2026 with a year-over-year decline of $152 million in January, General Funds revenues rebounded strongly in February, posting growth of $298 million, or 9.0%—more than offsetting the prior month’s losses. Gains were realized across several revenue sources, led primarily by a sizeable increase in Personal Income Tax receipts. With two-thirds of FY 2026 now complete, total revenues stand at $1.337 billion, or 4.1%, above last year’s pace with four months remaining in the fiscal year.