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Gov. Ricketts: State’s Revenue Forecast Reflects Nebraska’s Strong Growth, Sets Stage for More Tax Relief
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28 Oct 2022
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LINCOLN – Today, Governor Pete Ricketts commented on this afternoon’s decision by the Nebraska Economic Forecasting Advisory Board to raise the State’s revenue forecast by $2.5 billion through fiscal year 2024-2025. The board voted to increase the State’s revenue forecast by $621 million for the current fiscal year (FY2022-23), to increase estimates by $820 million for fiscal year 2023-24, and to increase estimates by $1.05 billion for fiscal year 2024-25.
Currently, the State’s Cash Reserve Fund is at $1.7 billion. The revised forecast projects it to grow to $2.3 billion by the end of FY2023-2024.
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