Policy Note: State Revenue Forecast, 2014-2015
Date: January 17th, 2013
The coming six months in the State House will be largely devoted to the crafting of the next two-year state budget. And the foundation of this process will be the estimates for state revenues for that period, the 2014 and 2015 fiscal years. Barring the adoption of any new revenue sources, these estimates will essentially define for policymakers the amount of money available for spending on state programs.
The Center’s updated State Revenue forecast for FY2014-2015 assumes that the New Hampshire and U.S. economies will continue a modest recovery, with no recession in 2013 or 2014. This comes after several years of essentially flat revenue growth, following the single year 5-percent drop in state revenues from FY2008 to FY2009 in the immediate aftermath of the Great Recession. Our model calls for small growth in 2014 and 2015 over current revenue levels: 1.7 percent increase in 2014, and 2.1 increase in 2015. Read the full report by clicking on the link above.