Governor Stein Addresses Revised Revenue Forecast and Fiscal Strategy

Governor Stein Responds to New Revenue Forecast

The recent release of the revised revenue forecast by the Consensus Forecasting Group (CFG) has sparked commentary from Governor Stein. The CFG, which includes economists from the Office of State Budget and Management (OSBM) and the General Assembly’s Fiscal Research Division, provides insight into the state’s economic health. Read the full forecast here.

Governor Stein addressed the implications of the revised forecast, noting that “with the strong stock market, revenues have exceeded our forecast.” However, he cautioned against relying solely on the fluctuating stock market for economic stability. “That is good news, but we can’t stake our future on stock market volatility,” Stein emphasized. He underscored the importance of prudent financial planning, stating, “We need to make fiscally responsible decisions and continue to invest in what makes our state so strong: our people.”