A new revenue forecast released Thursday shows that while state spending continues to outpace revenues, the budget will not fall into the red by the end of the decade as predicted last April.
State fiscal analysts increased their revenue forecasts by about $260 million for 2026 and 2027 combined, although state spending is projected to exceed revenues by more than $900 million for those two years combined as well, a new budget profile shows.
However, a combination of increased Medicaid matching funds and less education spending because of a declining student population means the state's ending balance is not . . .
SSJ
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